Completion of acquisition

RNS Number : 7395L

BAE SYSTEMS PLC

04 May 2020

 

BAE Systems completes Airborne Tactical Radios business acquisition

4 May 2020

Further to the announcement of 20 January 2020, BAE Systems has completed the acquisition of Raytheon Technologies Corporation's Airborne Tactical Radios business ("Radios business"), after receiving regulatory and other customary approvals. The consideration of $275 million (approximately £218 million) has been funded from BAE Systems' existing cash resources.

As a leading provider of airborne tactical radio solutions, the Radios business designs, manufactures and supplies a broad range of mission-critical communication systems to the US Department of Defense, allied governments and large defence aircraft manufacturers. These systems feature state of the art anti-jamming, multi-band, multi-channel and encryption capabilities, which are essential to secure communication.

Over its long history of innovation, the Radios business has developed valuable intellectual property in the secure radio communications domain resulting in a significant installed base of radios across a number of military airborne platforms in allied countries.

The Radios business is a strong strategic fit, adding complementary positions in the airborne communications domain including software-defined radio capabilities and a catalogue of waveforms.  

The business employs approximately 100 employees in locations in Indiana and Florida. The highly skilled engineering workforce and experienced management team will join the C4ISR Systems business area of the Electronic Systems sector.  

Issued by:

Martin Cooper - Investor Relations Director
BAE Systems plc

London

 

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