Defense Giant BAE Buys Ball Aerospace for US$ 5.5 Billion
Posted on 08/22/2023
BAE Systems is known for its national security clearances and secretive projects, with even its own management being unaware of sensitive projects inside the company. BAE Systems mainly serves the U.S. and the UK, but BAE Systems is also active all over the world. The company has announced a definitive agreement for the acquisition of Ball Aerospace for US$ 5.55 billion. Ball Aerospace is known for national security space architecture, mission-enabling technologies, and scientific discoveries.
Tom Arseneault, President and CEO of BAE Systems said: “This marquee acquisition would advance our company’s position in some of the fastest growing segments of the defense market and further increase our alignment with enduring customer priorities in both the U.S. National Defense Strategy and U.S. Intelligence Strategy. Ball Aerospace’s world-class products, capabilities and deep customer relationships would enhance our existing portfolio in areas including space, C4ISR and missile systems.”
Ball Aerospace’s space-related programs account for approximately 70% of its annual revenues of US$ 2.2 billion. BAE says: “The acquisition of Ball Aerospace would provide a robust platform for accelerating our space strategy.” Ball delivers mission payloads, optical systems, conformal antennas, and electronically steered arrays, and has relationships with the Intelligence Community, U.S. Department of Defense, and civilian space market.
Teachers’ Retirement System of Kentucky is the 6th largest shareholder of BAE with 219,000 shares.
