by Richard Tomkins
Arlington, Va. (UPI) Dec 12, 2014
BAE Systems plans to expand its portfolio of intelligence, surveillance and reconnaissance products and services with the acquisition of a Texas-based company.
An agreement for the sale of Eclipse Electronic Systems Inc. was signed with Esterline Corporation, Eclipse's parent company.
"This proposed acquisition fully aligns with BAE Systems' strategy to invest in advanced technologies critical to U.S. national security and defense needs," said Tom Arseneault, chief operating officer at BAE Systems Inc. "By combining Eclipse Electronic Systems' products with BAE Systems' existing ISR capabilities, we will be able to support our customers' requirements for reliable, smaller, lighter, and more power-efficient sensor solutions to capture and harness actionable intelligence."
The proposed transaction, which is subject to U.S. regulatory approval, is anticipated to close in the first quarter of next year.
BAE Systems said the cash deal is for about $28 million, subject to closing adjustments.
Eclipse Electronic Systems provides highly-advanced intelligence, surveillance, and reconnaissance products and services to the U.S. defense and intelligence communities.
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