BAE SYSTEMS Acquires OASYS Technology For $25 Million Cash

First Published Tuesday, 7th September 2010 02:38 pm - © 2010 Dow Jones


LONDON -(Dow Jones)- BAE Systems PLC (BA.LN), a company engaged in the development, delivery and support of advanced defense, security and aerospace systems announced Tuesday it has entered into a definitive agreement to acquire OASYS Technology, LLC, a U.S. manufacturer of electro-optical systems and sub-assemblies based in New Hampshire for a cash consideration of $25 million at closing.

MAIN FACTS:

-A potential earnout of up to $30 million will be funded from existing BAE Systems cash resources.

-OASYS Technology is privately owned by five employees, including its three principal founders.

-Shares at 1421 GMT up 0.9 pence, or 0.28%, at 323.40 pence.

-By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; zechariah.hemans@dowjones.com

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