UK defence contractor BAE Systems has announced plans to acquire 100% of US imaging manufacturer Fairchild Imaging for approximately US$86m in cash.
BAE, which currently owns 8.7% of Fairchild, aims to take over the group as part of a strategy to grow…
UK defence contractor BAE Systems has announced plans to acquire 100% of US imaging manufacturer Fairchild Imaging for approximately US$86m in cash.
BAE, which currently owns 8.7% of Fairchild, aims to take over the group as part of a strategy to grow its electronic systems business.
The acquisition is subject to regulatory approval, but BAE expects it will close in the first-half of this year.
“The addition of Fairchild Imaging’s advanced electronic imagery technology will support enhanced night vision capability for both airborne and land forces applications,” said BAE president and CEO Linda Hudson.
“It also progresses BAE Systems’ focus on providing our customers with higher quality image solutions with lower size, weight, and power characteristics, helping soldiers to complete their missions more safely and effectively.” Fairchild is headquartered in California, where it employs around 150 people. If the acquisition is successful, the company will be incorporated within BAE’s Electronic Solutions division.
Charles Arduini, president of Fairchild, said: “We look forward to becoming part of BAE Systems to further enable Fairchild Imaging to deliver our low-light scientific CMOS (sCMOS) imaging technology for the benefit of the soldier.” The proposed deal follows BAE’s acquisition of US-based electro-optical systems manufacturer OASYS Technology last year.
