Raytheon division in Fort Wayne to be sold

FORT WAYNE, Ind. (Inside INdiana Business) — A division of Massachusetts-based Raytheon Co. (NYSE: RTN) with a presence in Indiana will soon be under new ownership. BAE Systems Inc., headquartered in the United Kingdom, has announced plans to acquire Raytheon’s Airborne Tactical Radios business, which is based in Fort Wayne, in a cash deal valued at $275 million.

BAE Systems is also planning to acquire the military Global Positioning System business of Iowa-based Collins Aerospace. That deal is valued at nearly $2 billion.

Raytheon’s ATR business designs, manufactures and supplies a variety of communication systems for the U.S. Department of Defense, allied governments and large defense aircraft manufacturers. The business also has a location in Largo, Florida.

BAE Systems says the ATR business will enhance its position in airborne communications.

“As militaries around the world increasingly operate in contested environments, the industry-leading, battle-tested products of these two businesses will complement and extend our existing portfolio of solutions we offer our customers,” Jerry DeMuro, chief executive officer of BAE Systems, said in a news release. “This unique opportunity to acquire critical radio and GPS capabilities strengthens our position as a leading provider of defense electronics and communications systems, and further supports our alignment with the modernization priorities of the U.S. military and its partners.”

BAE Systems says the acquisitions of both businesses will create an expected combined tax benefit of $415 million. The acquisitions remain subject to regulatory approvals and customary closing conditions.

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Author: Alex Brown, Inside INdiana Business


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