BAE Systems has agreed to acquire Ball’s (NYSE: BALL) aerospace business for approximately $5.55 billion as part of efforts to accelerate the British defense contractor’s space market strategy and expand its technology offerings for the U.S. government.
“This marquee acquisition would advance our company’s position in some of the fastest growing segments of the defense market and further increase our alignment with enduring customer priorities in both the U.S. National Defense Strategy and U.S. Intelligence Strategy,” Tom Arseneault, president and CEO of BAE Systems Inc., said in a statement published Thursday.
Arseneault, a two-time Wash100 awardee, added that Ball Aerospace’s capabilities, customer relationships and products would improve BAE’s portfolio in areas such as space, missile and C4ISR systems.
Ball Aerospace develops spacecraft, mission payloads, conformal antennas, electronically steered arrays and optical systems and maintains clients relationships across the Department of Defense, IC and civilian space market.
Space-related programs represent 70 percent of Ball Aerospace’s 2023E revenues of $2.2 billion.
Register here to join the ExecutiveBiz Space Technologies Forum on Aug. 29 to hear thought leaders, industry experts and government officials as they share their thoughts on the space domain and discuss what lies ahead for space technology.
