BAE Systems to acquire Ball Aerospace for $5.5 billionNews
August 21, 2023
LONDON. U.K.-based defense technology company BAE Systems announced that it plans to acquire Ball Aerospace (Westminster, Colorado) for $5.5 billion.
The BAE Systems announcement cited the prospective acquisition of Ball Aerospace as a "unique opportunity to strengthen BAE Systems’ world class multi-domain portfolio," as Ball Aerospace is already a leading provider of mission-critical space systems and defense technologies across air, land, and sea domains, with strong growth potential in areas aligned with the U.S. intelligence community and the U.S. Department of Defense’s (DoD's) priorities.
In a statement regarding the planned acquisition, Charles Woodburn, chief executive of BAE Systems, said: “The proposed acquisition of Ball Aerospace is a unique opportunity to add a high quality, fast growing technology focused business with significant capabilities to our core business that is performing strongly and well positioned for sustained growth. It’s rare that a business of this quality, scale and complementary capabilities, with strong growth prospects and a close fit to our strategy, becomes available. “The strategic and financial rationale is compelling, as we continue to focus on areas of high priority defense and Intelligence spending, strengthening our world class multi-domain portfolio and enhancing our value compounding model of top line growth, margin expansion and high cash generation."
The BAE Systems statement puts the targeted completion date somewhere in the first half of 2024.