BAE Systems has completed the £1.48 billion acquisition of a military positioning specialist. Earlier this year, the company entered into an agreement to buy the Collins Aerospace GPS operation from Raytheon Technologies Corporation.
It has now received all necessary regulatory approvals and fulfilled the other customary conditions. The acquired outfit provides mission critical military services and has had a foothold in the market for more than 40 years.
It is considered to be “highly complementary” to BAE’s priority growth area of precision guided munitions.
“This acquisition, which follows the successful purchase of the Airborne Radios business in May, is another example of us delivering on our strategy to invest in technology that positions the group for future growth. The Military GPS business brings high quality products which complement our electronic systems portfolio, strengthening our position as a leading provider of defence electronics,” said Charles Woodburn, chief executive of BAE Systems.