Acquisition

RNS Number : 4423Y

BAE SYSTEMS PLC

22 December 2010

 



BAE Systems - Acquisition of ETI A/S

 22 December 2010

BAE Systems has entered into a definitive agreement with ETI Holdings ApS and an associated company to acquire ETI A/S and certain associated companies for cash consideration of DKK 1.2 billion (approximately £137 million).  ETI is a leading cyber and intelligence company providing advanced technology products and services to government and commercial clients worldwide.

ETI generated sales of DKK 347 million in the year to June 2010 and employs approximately 260 people. It is headquartered in Denmark with operations in the UK, US, and the Asia and Middle East regions.

The acquisition is conditional, among other things, upon receiving regulatory approval and is expected to close in the first quarter of 2011.

Issued by:

BAE Systems plc

London

 

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