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.
Visit the USSA News store!
Click this link for the original source of this article.
Author: Alex Brown, Inside INdiana Business
This content is courtesy of, and owned and copyrighted by, http://wishtv.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact the USSANews.com administrator by using the contact form located in the top-left menu. Your request will be immediately honored. Please visit http://wishtv.com for more terrific, conservative content. The owner of this website may be paid to recommend American Bullion. The content of this website, including the positive review of American Bullion, the negative review of its competitors, and any other information may not be independent or neutral.