BAE makes $86M deal for imaging company
Compamy picks up Fairchild Imaging to add nightvision technologies
- By David Hubler
- Jan 21, 2011
BAE Systems today announced that it has entered into a
definitive agreement to acquire Fairchild Imaging Inc., a privately held
company specializing in solid-state electronic imaging components, cameras and
systems for aerospace, industrial, medical, and scientific imaging
BAE Systems currently owns 8.7 percent of the equity in
Fairchild Imaging and, upon completion of the acquisition for a cash
consideration of $86 million, will acquire all remaining
outstanding equity, the company announced today.
The announcement said the proposed acquisition of Fairchild
Imaging is consistent with BAE Systems’ strategy to grow its electronic systems
business and will complement existing electro-imaging capabilities,
technologies, and product offerings.
“The addition of Fairchild Imaging’s advanced electronic
imagery technology will support enhanced night vision capability for both
airborne and land forces applications,” said Linda Hudson, president and CEO of
BAE Systems, in the announcement.
Fairchild Imaging employs approximately 150 people at its
facility in Milpitas, Calif.,
and upon successful closing of the acquisition, will become part of BAE
Systems' Electronic Solutions sector, based in Nashua, N.H.
The proposed acquisition of Fairchild Imaging follows BAE
Systems’ 2010 acquisition of OASYS Technology, which specializes in the design
and manufacture of electro-optical systems and subassemblies for aerospace,
defense, industrial and commercial markets.
The acquisition, which is conditional among other things upon
receiving certain regulatory approvals, is expected to close in the first half
BAE Systems, of Rockville,
Md., ranks No. 15 on Washington
Technology’s 2010 Top 100 list of the largest federal government contractors.