Acquisition

RNS Number : 9437W

BAE SYSTEMS PLC

29 November 2010

 



BAE Systems - Acquisition of stratsec.net Pty Ltd

 29 Nov 2010

BAE Systems has entered into a definitive agreement to acquire stratsec.net Pty Ltd (stratsec) for cash consideration of AUD$24 million.  stratsec is an information security company employing approximately 50 people with offices in Australia, Malaysia and Singapore.  stratsec is privately owned by three employees and the stratsec employee share trust.

The acquisition supports BAE Systems' strategy to expand its existing information security services knowledge and experience and is consistent with the Group's strategy to develop its cyber and security business in its home markets.

The acquisition is conditional, among other things, upon receiving regulatory approval and is expected to close in the fourth quarter of 2010.

Issued by:

BAE Systems plc

London

 

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