Following regulatory approvals for the acquisition of Ball Aerospace, BAE Systems has now successfully concluded the acquisition of Ball Aerospace from Ball Corporation. The transaction has been finalised at a purchase price of US$5.5 billion (approximately £4.4 billion), financed through existing cash reserves and new external debt. The newly acquired entity will operate under the name Space & Mission Systems, aligning within the Electronic Systems reporting segment.
Ball Aerospace is a provider of spacecraft, mission payloads and optical and antenna systems with decades of proven success underpinned by world-class advanced technologies. The business has trusted customer relationships in the Intelligence Community, U.S. Department of Defense, civilian space agencies and with major aerospace and defence primes and is well positioned in highly attractive markets, including military and civil space, C4ISR and missiles and munitions. The business is based in Colorado, with more than 5,200 employees, many of whom hold U.S. security clearances.
Commenting on the acquisition, Charles Woodburn, Chief Executive of BAE Systems, stated, “In recent years, we’ve said that we would seek out opportunities to grow our portfolio in advanced technology areas that meet our customers’ most urgent needs, and completing the acquisition of Ball Aerospace is an example of that strategy in action. We look forward to welcoming the employees of Ball Aerospace to BAE Systems, bringing one of the industry’s most respected and capable businesses into the group. The addition of this quality, fast-growing technology-focused business will significantly expand our presence in this increasingly critical space domain and further enhances our value compounding model of top-line growth, margin expansion and high cash generation.”
