BAE wraps up purchase of Fairchild Imaging
Remaining equity purchased for $86 million in cash
BAE Systems Inc. has completed its acquisition of Fairchild Imaging Inc. by acquiring all remaining outstanding equity for $86 million in cash, BAE announced. BAE Systems had owned 8.7 percent of the electronic imaging technology provider.
The proposed acquisition was announced January.
Fairchild Imaging manufactures solid-state electronic imaging components, cameras and systems, which have potential uses for aerospace, industrial, medical and scientific imaging applications, including night vision systems, thermal imagers, aerial mapping, and missile seekers, BAE said in the announcement.
The company employs approximately 160 people at its facility in Milpitas, Calif. Its operations will now become part of the BAE Systems Electronic Solutions sector in Nashua, N.H.
This acquisition is consistent with BAE Systems' strategy to grow its electronic systems business and builds on the company's acquisition of OASYS Technology in 2010. By integrating the capabilities of these acquired businesses, BAE Systems will be better positioned to provide new and enhanced solutions for customers, according to the announcement.
BAE Systems Inc., of Arlington, Va., ranks No. 15 on Washington Technology’s 2010 Top 100 list of the largest federal government contractors.
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David Hubler is senior editor of Washington Technology. Follow him on Twitter: @DavidHubler.