BAE Systems Signs Agreement to Acquire Ball Aerospace
August 17 2023 - 2:51AM
Business Wire
Complements BAE Systems’ diverse product and service set to
address increased U.S. government demand for space systems
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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the full release here:
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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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230817412584/en/
For more information, please contact: Lisa Malloy, BAE
Systems Mobile: 571.609.2213 lisa.malloy@baesystems.com
www.baesystems.com/US @BAESystemsInc
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