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Wednesday, December 7, 2016

BAE SYSTEMS Completes Sale of Communications Equipment Facility

November 1, 2002

BAE SYSTEMS North America has completed the sale of its Advanced Systems' Gaithersburg operation to Integrated Defense Technologies, Inc.

The negotiated $146 million cash sale to Integrated Defense Technologies was originally announced Sept. 13. Closing of the sale today followed completion of regulatory reviews and approvals.

At the Gaithersburg, Md. Operation, more than 300 employees design and manufacture high performance radio frequency surveillance equipment used in signals intelligence applications.

Mark Ronald, COO, BAE SYSTEMS plc (BAESY), and President and CEO, BAE SYSTEMS North America, said the sale was made because the focus and strategy of BAE SYSTEMS North America is moving from component provider - as represented by the RF surveillance equipment lines -- to systems integration.



 
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