UK-headquartered aerospace and defence company BAE Systems has acquired Colorado USA-based Ball Aerospace for US$5.5 billion.
The deal, which was first announced last August received regulatory approval last week and will see Ball Aerospace renamed Space and Mission Systems. Ball Aerospace and its 5,200 employees, many of whom hold US security clearances will remain in Colorado, according to local reports.
Ball Aerospace was founded in 1956 and develops and builds spacecraft, mission payloads, and optical and antenna systems. The company supplies to the Intelligence Community, US Department of Defense, civilian space agencies, and major aerospace and defense companies.
Charles Woodburn, CEO of BAE Systems said, “In recent years, we have said that we would seek out opportunities to grow our portfolio in advanced technology areas that meet our customers’ most urgent needs, and completing the acquisition of Ball Aerospace is an example of that strategy in action.
“We look forward to welcoming the employees of Ball Aerospace to BAE Systems, bringing one of the industry’s most respected and capable businesses into the Group. The addition of this quality, fast-growing technology-focused business will significantly expand our presence in this increasingly critical space domain and further enhances our value-compounding model of top-line growth, margin expansion and high cash generation.
The rest of Ball Corporation, which was founded in 1880 produces aluminum packaging for items such as drinks and aerosols.
