Buying and selling

  • 30-Jun-2008 08:11 EDT

In a transaction totaling $450 million, BAE Systems agreed to acquire MTC Technologies, a Dayton, OH-based company providing technical and professional services, and equipment integration and modernization for the U.S. military and intelligence agencies. MTC, which employs 2900 people, will become part of BAE Systems’ Customer Solutions operating group, headquartered in Arlington, VA, as part of the company’s Technology Solutions & Services line of business. This announcement follows the news that BAE Systems agreed to sell its Surveillance and Attack business in Lansdale, PA, to Sensor and Antenna Systems, a subsidiary of Cobham Defence Electronic Systems, for $240 million. The 400 BAE employees in Lansdale provide broadband high-power transmitter and RF front-end systems for military aircraft.

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