BAE makes $86M deal for imaging company

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 applications.  

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 of 2011.

BAE Systems, of Rockville, Md., ranks No. 15 on Washington Technology’s 2010 Top 100 list of the largest federal government contractors.