Acquisition

RNS Number : 3021S

BAE SYSTEMS PLC

07 September 2010

 



BAE Systems - acquisition of OASYS Technology

7 Sept 2010

BAE Systems has entered into a definitive agreement to acquire OASYS Technology, LLC, a US manufacturer of electro-optical systems and sub-assemblies based in Manchester, New Hampshire. 

The proposed acquisition, for cash consideration of $25 million at closing and a potential earnout of up to $30 million will be funded from existing BAE Systems cash resources.  OASYS Technology is privately owned by five employees, including its three principal founders.

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

Issued by:

BAE Systems plc

London

 

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