FALLS CHURCH, Va.--(BUSINESS WIRE)--Aug 17, 2023--
BAE Systems today announced a definitive agreement for the proposed acquisition of Ball Aerospace for approximately $5.55 billion. The Ball Aerospace legacy of achieving advances in national security space architecture, mission-enabling technologies, and scientific discoveries are complementary to BAE Systems’ portfolio and culture. The proposed acquisition of Ball Aerospace represents an exceptional opportunity to acquire a high quality, technology-based business with market leading space and defense capabilities to solve our customers’ greatest challenges.
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Nancy Grace Roman Space Telescope (Photo: Business Wire)
“This marquee acquisition would advance our company’s position in some of the fastest growing segments of the defense market and further increase our alignment with enduring customer priorities in both the U.S. National Defense Strategy and U.S. Intelligence Strategy. Ball Aerospace’s world-class products, capabilities and deep customer relationships would enhance our existing portfolio in areas including space, C4ISR and missile systems,” said Tom Arseneault, President and CEO of BAE Systems, Inc. “We believe BAE Systems and Ball Aerospace share a culture of mission-driven innovation and operational excellence. We look forward to sustaining the historic legacy of Ball Aerospace and investing in its future.”
Ball Aerospace’s space related programs account for approximately 70% of its 2023E revenues of $2.2 billion, with the balance attributable to mission-enabling technologies and R&D for the warfighter across land, sea and air domains. The acquisition of Ball Aerospace would provide a robust platform for accelerating our space strategy.
Ball Aerospace has a long and distinguished track record as a proven partner and pioneering innovator, with expertise in spacecraft, mission payloads, optical systems, conformal antennas, and electronically steered arrays. With trusted customer relationships among the Intelligence Community, U.S. Department of Defense and civilian space market, the Ball Aerospace team supports the delivery of a broad set of products and differentiating technologies to meet growing customer demands.
Our mutual cultures of commitment to the mission and technology driven innovation would set a solid foundation to serve the combined enterprise and our customers well into the future.
The proposed transaction is subject to the satisfaction of customary closing conditions, including required regulatory approvals.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230817412584/en/
CONTACT: For more information, please contact:
Lisa Malloy, BAE Systems
Mobile: 571.609.2213
lisa.malloy@baesystems.comwww.baesystems.com/US
@BAESystemsInc
KEYWORD: VIRGINIA EUROPE UNITED STATES UNITED KINGDOM NORTH AMERICA
INDUSTRY KEYWORD: DEFENSE AEROSPACE MANUFACTURING MILITARY OTHER MANUFACTURING OTHER DEFENSE
SOURCE: BAE Systems
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PUB: 08/17/2023 02:51 AM/DISC: 08/17/2023 02:50 AM
http://www.businesswire.com/news/home/20230817412584/en
