BAE Systems completes $1.9 billion acquisition of Raytheon’s navy GPS enterprise

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BAE Systems has accomplished its $1.9 billion buy of Collins Aerospace’s navy Global Positioning System enterprise from Raytheon Technologies Corporation, the corporate introduced July 31. 

“Today marks the culmination of a tremendous team effort, and we are extremely proud to welcome the Military GPS employees to our company,” mentioned John Watkins, vp and basic supervisor of Precision Strike & Sensing Solutions at BAE Systems. “Together, we will build on our rich histories of providing superior, innovative capabilities to help protect our U.S. and allied warfighters.”

The acquisition follows the merger of protection contracting giants United Technologies Corp. and Raytheon into Raytheon Technologies Corporation in June. The U.S. Department of Justice had accredited that merger in March, however solely on the situation the businesses divest UTC’s navy GPS and enormous space-based optical techniques companies and Raytheon’s navy airborne radios enterprise.

The two corporations had already struck a cope with BAE in January, which noticed BAE buying Collins Aerospace’s navy GPS enterprise from UTC for $1.9 billion and Raytheon’s airborne tactical radio enterprise for $275 million.

The navy GPS enterprise features a workforce of 700 workers that design and construct superior, hardened, safe GPS merchandise, together with gadgets that may make the most of M-Code, a safer U.S. navy GPS sign. The enterprise boasts greater than 1.5 million GPS gadgets put in on greater than 280 weapons techniques.

“This partnership will enable us to build on our market leadership and bring new discriminating capabilities to our customers, including the U.S. Department of Defense and its allies,” mentioned Greg Wild, director of Military GPS. “We’re excited to be joining the BAE Systems family. They appreciate our legacy of innovation and will provide opportunities for continued business growth and success.”

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