BAE Systems Announces Agreement to Acquire OASYS Technology

Wednesday, Sep 08, 2010

BAE Systems today announced it has entered into a definitive agreement to acquire OASYS Technology, a privately owned company specializing in the design and manufacture of electro-optical systems and subassemblies for aerospace, defense, industrial and commercial markets.

“We look forward to the opportunity to become part of the BAE Systems family. We will be better positioned to serve our current customer base and broaden both the market and potential applications for our expertise, technologies, and products.”

The acquisition of OASYS Technology will complement BAE Systems' existing electro-optical capabilities, technologies and product offerings.

“OASYS Technology’s talented workforce and technologies will enhance BAE Systems' ability to serve its customers as a leader in day/night surveillance and targeting systems as well as precision guidance,” commented Bob Murphy, executive vice president of BAE Systems, Inc. product sectors.

OASYS Technology employs 65 people at its 40,000 square foot design and manufacturing facility in Manchester, New Hampshire. Upon successful closing, OASYS Technology’s operations are expected to be integrated with the BAE Systems business headquartered in Nashua, New Hampshire.

OASYS Technology Chief Executive Officer Mike Couture stated, “We look forward to the opportunity to become part of the BAE Systems family. We will be better positioned to serve our current customer base and broaden both the market and potential applications for our expertise, technologies, and products.”

The proposed acquisition is conditional, among other things, upon receiving certain U.S. regulatory approvals, and it is expected to close during the fourth quarter of 2010.

Source: Business Wire