ORLANDO, Fla., 28 Nov. 2007.BAE Systems has entered into a definitive agreement to acquire the Swedish high-tech company Pitch Technologies AB (Pitch) for a cash consideration of 61.3 MSEK.
Founded in 1991 and headquartered in Linköping, Sweden, Pitch makes computer-based training and research simulation technologies. Some of the largest and most complex simulation programs in governments and industries worldwide, including those in NASA, Boeing, and Mitsubishi, employ Pitch's state-of-the-art simulations products, services and solutions.
"The addition of Pitch to the BAE Systems family creates a world-class capability that will set a new standard for enterprise-level simulation interoperability and solutions for training and simulation," said Claes Erik Frölund, President of BAE Systems C-ITS business in Sweden.
In Sweden, BAE Systems AB employs 2,000 people in three subsidiary companies with a turnover of 4,500 BSEK.
