BAE Systems to Acquire Fairchild Imaging
ARLINGTON, Va., Jan. 26, 2011 — Global defense and security company BAE Systems has entered a definitive agreement to acquire Fairchild Imaging Inc., a privately held company that manufactures solid-state electronic imaging components, cameras and systems for aerospace, industrial, medical and scientific imaging applications.
BAE Systems currently owns 8.7 percent of the equity of Fairchild Imaging. Upon completion of the acquisition for a cash consideration of approximately $86 million, it will acquire the remaining outstanding equity in the company.
The acquisition will help BAE Systems to grow its electronic systems business and will complement existing electro-imaging capabilities, technologies and product offerings.
The acquisition follows BAE Systems’ acquisition of Oasys Technology in 2010. It is conditional upon receiving certain regulatory approvals and is expected to close in the first half of 2011.
For more information, visit: www.baesystems.com
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