ST. LOUIS, 4 July 2010. The Boeing Co. plans to acquire Argon ST Inc. in Fairfax, Va., to strengthen Boeing's expertise in command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) and combat systems. Boeing's acquisition of Argon ST expands the company's capabilities in C4ISR, cyber warfare, and military intelligence applications, Boeing officials say.
Boeing and Argon ST agreed last week for Boeing to acquire Argon for about $775 million in cash, or $34.50 per share. Argon ST develops sensors and networks designed to exploit, analyze and deliver information for real-time situational awareness. Founded in 1997, Argon ST has facilities in Virginia, California, Michigan, Pennsylvania, Florida, Maryland, and Texas, and has about 1,000 employees.
Once acquired, Argon ST [NASDAQ: STST] will be a stand-alone subsidiary of Boeing [NYSE: BA] and a division of Boeing Network & Space Systems in St. Louis, a business within the Boeing Defense, Space & Security operating unit. The transaction is expected to close by the end of the third quarter 2010.
"Combining the strength of Boeing with the experience of Argon ST will significantly accelerate our capabilities in sensors, communications technologies and information management," says Dennis Muilenburg, president and chief executive officer of Boeing Defense, Space & Security.
For more information contact Boeing Network & Space Systems online at www.boeing.com/bds/network_space, or Argon ST at www.argonst.com.
