General Dynamics closes $643M Axsys deal
By
Nick Wakeman
GD picks up sensor capabilities for weapon systems and long-range cameras.
General Dynamics Advanced Information Systems completed its acquisition of Axsys Technologies today, picking up capabilities in the optics and sensors used to manage weapons systems, long-range surveillance cameras and highly precise imaging telescopes
General Dynamics announced the acquisition in June and is paying $54 in cash for each share of Axsys.
The company has about 1,000 employees in five principal locations: Cullman, Ala.; San Diego and Grass Valley, Calif.; Nashua, N.H.; and Rochester Hills, Mich.
“Axsys Technologies strengthens our portfolio of offerings and discriminators in the tactical intelligence, surveillance and reconnaissance market,” Lou Von Thaer, president of General Dynamics Advanced Information Systems, said in a statement.
General Dynamics is ranked No. 4 on the 2009 Washington Technology Top 100 list of the largest government contractors.