General Dynamics boosts electro optics and ISR capabilities with Axsys buy

FAIRFAX, Va., 4 June 2009. General Dynamics Advanced Information Systems (GD-AIS) in Fairfax, Va., is acquiring military electro-optics specialist Axsys Technologies Inc. in Rocky Hill, Conn., to boost the GA-AIS presence in military intelligence, surveillance, and reconnaissance (ISR) applications.

Jun 4th, 2009

FAIRFAX, Va., 4 June 2009. General Dynamics Advanced Information Systems (GD-AIS) in Fairfax, Va., is acquiring military electro optics specialist Axsys Technologies Inc. in Rocky Hill, Conn., to boost the GA-AIS presence in military intelligence, surveillance, and reconnaissance (ISR) applications.

The GD-AIS acquisition of Axsys -- which is for $54 per share of Axsys Technologies outstanding common stock, or $643 million -- will strengthen General Dynamics capabilities in command, control, communications, intelligence, surveillance, and reconnaissance (C4ISR), and expand the GD-AIS military ISR sensor, imaging, intelligence, surveillance, and reconnaissance offerings to the U.S. government

The proposed acquisition, which has been approved by the boards of directors of Axsys Technologies and General Dynamics, is subject to regulatory approvals as well as approval by Axsys Technologies shareholders. The deal is expected to close sometime this summer.

Axsys Technologies builds electro optical and military infrared sensors and systems and multi-axis stabilized cameras. Its electro optical customers include U.S. military and homeland security agencies, systems integrators that support those customers, and commercial customers in high-performance markets such as aerial and perimeter surveillance applications in law enforcement, energy and broadcast and film production.

"Adding Axsys Technologies' capabilities to our existing intelligence, surveillance and reconnaissance expertise will enable us to further strengthen our portfolio of offerings and discriminators in the high-growth tactical ISR market," says Lou Von Thaer, president of General Dynamics Advanced Information Systems.

For more information contact General Dynamics Advanced Information Systems online at www.gd-ais.com, or Axsys Technologies at www.axsys.com.

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