BAE Systems completes $275M Airborne Tactical Radios Deal

British defense company BAE Systems said it had completed the acquisition of Raytheon’s airborne tactical radios business, paying US$275 million out of existing cash resources to finalize the deal announced in January. 

BAE announced the acquisition of the radio business plus a larger military-focused GPS unit for a total of US$2.2 billion three months ago. Both were sold as a result of the merger of its US rivals Raytheon and United Technologies.

The acquisition represents a unique opportunity to purchase high quality technology based businesses with market leading capabilities and long histories of pioneering innovation in their fields. These assets have come to market as part of the regulatory process relating to the merger of Raytheon and UTC. Both businesses are highly complementary to our US-based Electronic Systems business and on completion they would be integrated into our Electronic Systems division.

Full Content: Reuters

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