BAE Systems enters agreement to acquire MTC Technologies Inc.

ROCKVILLE, Md., 30 Dec. 2007. BAE Systems has entered into a definitive agreement to acquire MTC Technologies Inc., a Dayton, Ohio-based company providing technical and professional services, and equipment integration and modernization for the U.S. military and intelligence agencies.

MTC Technologies' shareholders will receive $24 in cash per share of common stock, without interest, in the transaction, representing a total consideration for MTC Technologies' fully diluted share capital of approximately $367 million. Including the assumption of net debt of $81 million, the transaction is valued at approximately $450 million.

The acquisition of MTC Technologies is consistent with BAE Systems' strategy to become the premier global defense and aerospace company by growing its business in the company's six home markets, including the United States, and by growing the company's worldwide services businesses.

Walt Havenstein, president and CEO of BAE Systems Inc. says: "This acquisition helps us become an even more effective prime contractor and provider of technical solutions and services, which means we will have a greater capability to meet our customers' most demanding needs, specifically in the areas of readiness and sustainment."

MTC Technologies, which currently employs approximately 2,900 people, will become part of BAE Systems' Customer Solutions operating group, headquartered in Arlington, Virginia, as part of the company's Technology Solutions & Services (TSS) line of business.

The combination of MTC Technologies with BAE Systems is an outstanding fit with very complementary offerings, and will position the organization to bring proven capabilities to a broader spectrum of customers. BAE Systems has long been recognized as a leading provider of solutions and services across a product's life-cycle for the U.S. Navy. MTC Technologies similar expertise in supporting U.S. Air Force and U.S. Army programs will create an organization poised to deliver critical solutions to its customers throughout the U.S. Armed Forces and the U.S. intelligence community.

The proposed acquisition is conditional upon receiving certain required regulatory clearances and the approval of MTC Technologies shareholders', among other things, and is expected to close in the first half of 2008.

Easily post a comment below using your Linkedin, Twitter, Google or Facebook account.


Military & Aerospace Photos

Most Popular Articles

Related Products

SBC-K7 Embedded PC for Instrumentation and Control

The SBC-K7 is an ideal platform for embedded instrumentation that combines an Atom PC running Win...

Rugged Mobile Communications Server

Advanced communications server designed to be deployed in environments where it needs to meet cer...

RR2P Removable Canister RAID System

Transportable data storage for mobile field use aboard planes, ships and ground transport. 2U, du...

Sensors Unlimited GA1280JSX High Resolution, Mil-Rugged, Extended High Sensitivity InGaAs SWIR Camera

Manufactures a high resolution, mil-rugged, extended high-sensitivity 0.9 Mpixel InGaAs SWIR came...

M1U20xx 1U Military-Grade Computer System

The M1U20xx Military-Grade Rack Mount System is a reliable high-performance mil-spec 1U solution ...

TFX-19 Trifold Rackmount LCD

The TFX1-19 is a rugged military grade high performance 2U rackmount LCD panel display offering t...

P317xx Portable Computer System w/ Three 17" LCDs

The P317xx portable " lunchbox" system is unique in offering three 17" 1280x1024 resolution LCD d...

CCXR-17 Slideways Side Access Rackmount LCD Keyboard

The CCXR-17 is a unique Side Access space-efficient military-grade high-performance 1U rackmount ...

M4U20xx 4U Rackmount Military-Grade Computer

A 4U rugged military-grade computer offering the latest long-availability high-performance mother...

Large Fiber Collimators

Diffraction Limited Large Fiber Collimators are designed for long distance beam propagation with ...

Related Companies

Innovative Integration

  Since 1988, Innovative Integration has grown to become one of the world's leading suppliers of DSP and data ac...

Elma Electronic Inc

Who we are...   About Elma Electronic Systems   The Systems division of Elma Electronic Inc. supplies the

Winchester Systems Inc

At its founding in 1981, Winchester Systems introduced its first 5 MB disk system for Intel development system users....

Extreme Engineering Solutions Inc (X-ES)

 Extreme Engineering Solutions, Inc. (X-ES) is a leader in the design, manufacture, and support of standard and ...

American Infrared Solutions (AIRS)

American Infrared Solutions

GE Intelligent Platforms

GE Intelligent Platforms is a leading global provider of embedded computing systems and modules for a wide range of a...

Raycom Electronics

Raycom Electronics, Inc., a subsidiary of Electro Technik Industries (ETI), was incorporated in 1965.  The compa...

Trenton Systems Inc

Designs and manufactures rugged rackmount computers and MIL-STD-810 systems using both standard COTS as well as custo...

Sensors Unlimited - UTC Aerospace Systems

Manufactures near-IR (NIR) and shortwave IR (SWIR) cameras (available fully packaged or as OEM imaging modules), line...
Wire News provided by   

social activity

Webcasts

Meeting the Gen3 backplane challenge with OpenVPX and COTS

Tight Pentagon budgets mean military systems must stay in the field for longer than ever before. This doesn't mean obsolete technology, however. Today's military electronics are being upgraded constantly, an...
Sponsored by:

Digital signal processing for signals intelligence and electronic warfare

Military & Aerospace Electronics presents an expert Webcast on the design considerations for blending general-purposes processors (GPUs), general-purpose graphics processors (GPGPUs), field-programmable ...
Sponsored by:

Design Strategy Considerations for DO-178C Certified Multi-core Systems

Join Wind River to learn how system architecture and design choices can minimize your DO-178C certification challenges.

Sponsored by:

All Access Sponsors

View the 2014 Buyer's Guide Now!


Mil & Aero Magazine

November 2014
Volume 25, Issue 11
file

Download Our Apps



iPhone

iPad

Android

Follow Us On...



Newsletters

Military & Aerospace Electronics

Weekly newsletter covering technical content, breaking news and product information
SUBSCRIBE

Defense Executive

Monthly newsletter covering business news and strategic insights for executive managers
SUBSCRIBE

Electronic Warfare

Quarterly newsletter covering technologies and applications in electronic warfare, cyber warfare, optical warfare, and spectrum warfare.
SUBSCRIBE

Embedded Computing Report

Monthly newsletter covering news on embedded computing in aerospace, defense and industrial-rugged applications
SUBSCRIBE

Unmanned Vehicles

Monthly newsletter covering news updates for designers of unmanned vehicles
SUBSCRIBE