Acquisition

RNS Number : 9435S

BAE SYSTEMS PLC

20 September 2010

 



RNS

BAE Systems - acquisition of L-1 Identity Solutions, Inc.'s Intelligence Services Group

20 September 2010

BAE Systems has entered into a definitive agreement to acquire L-1 Identity Solutions, Inc.'s Intelligence Services Group, which is comprised of SpecTal, LLC, Advanced Concepts, Inc., and McClendon, LLC, and is a leading provider of security and counter threat capabilities to the US Government for cash consideration of $295,833,000 in the aggregate. The proposed acquisition will be funded from BAE Systems' existing cash resources. 

The SpecTal, LLC, Advanced Concepts, Inc., and McClendon, LLC businesses complement the activities of BAE Systems' existing US-based Intelligence & Security sector capabilities and support the company's strategy to develop its customer support and services business.

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

Issued by:

BAE Systems plc

London

 

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