BAE Systems Inc today reached a definitive agreement with National Sensor Systems (NSS) to purchase all of the shares of the company for $8.7 million in cash.
NSS, a privately held company based in Acton, Mass., specializes in the development of electro-optical sensor systems for aerospace and defense applications. NSS also provides gimbal and stabilization systems to the Department of Defense and other government agencies.
NSS employs 20 engineers and scientists.
Walt Havenstein, president of BAE Systems Electronics & Integrated Solutions headquartered in Nashua, N.H., said, "NSS' technology expertise will help BAE Systems expand its capabilities in airborne sensors, electronic warfare and communications. In turn, we expect to take that expertise to the next level of innovative performance."
Steven Wein, NSS president, said, "We are excited to be joining a true leader in the defense electro-optics arena and look forward to continuing our growth in the high performance optical systems and airborne stabilization markets."
The parties expect to close the transaction promptly upon receipt of regulatory approvals.
About BAE Systems
BAE Systems is the premier trans-Atlantic defense and aerospace company, delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, information technology solutions and customer support services. BAE Systems, with more than 100,000 employees worldwide, had 2005 sales that exceeded $28 billion.
About National Sensor Systems
National Sensor Systems (NSS) develops and manufactures advanced optical systems primarily for the aerospace and defense industry. NSS specializes in the development of electro-optical sensor systems covering the visible through infrared wavelengths. The company provides hardware and software systems for pointing and stabilization, spectral and polarimetric sensing, laser communications, fiber optics, LIDAR, and aerial surveillance applications. NSS also provides real-time image processing algorithms for image enhancement and noise reduction in visible and infrared imaging systems. NSS is an employee-owned qualified small business. www.nationalsensorsystems.com