The move follows BAE's purchase of OASYS Technology, which designs and manufactures electro-optical systems and components. The $55 million of the Manchester, N.H., company deal was sealed last October.

Employing about 150 people, Fairchild Imaging, is a privately held company with headquarters in California, in which BAE owned a stake of 8.7 percent. It plans to spend $86 million to acquire the remaining equity.

The deal fits into BAE's strategy of growing its electronic systems business.

Fairchild Imaging is a leading supplier specializing in solid-state electronic imaging components, cameras and systems for defense, industrial, medical and scientific imaging markets, the company says.

BAE hopes the acquisition will add to providing higher quality image solutions.

"The addition of Fairchild Imaging's advanced electronic imagery technology will support enhanced night vision capability for both airborne and land forces applications," said BAE Systems Chief Executive Officer Linda Hudson.

With the purchase, acquisition spending by BAE, Europe's biggest defense company, will surge more than $600 million it has spend in the last six years.

"The acquisition is conditional, among other things, upon receiving certain regulatory approvals and is expected to close in the first half of 2011," The Telegraph newspaper in Nashua, N.H.

BAE Systems has three U.S. divisions, including Nashua's Electronic Solutions, and is Nashua's largest private employer.

With completion of the deal, Fairchild will become part of BAE's electronic solutions unit.

The addition of Fairchild Imaging's to BAE will also progresses the company's "focus on providing our customers with higher quality image solutions with lower size, weight, and power characteristics, helping soldiers to complete their missions more safely and effectively," said Hudson said.

Fairchild Imaging President Charles Arduini said the deal would "further enable Fairchild Imaging to deliver its low-light scientific CMOS imaging technology for the benefit of the soldier."

The simultaneous low-light, wide dynamic range, high definition video of sCMOS, he said, "will provide U.S. and NATO forces with the ability to see better than the enemy - in both day and night conditions."

The Financial Times reported that BAE had been under pressure for the acquisition because of looming speculation "it could be planning a bid for SRA International, the $1.5bn-valued US government IT consultant."

Announcement of the deal came as BAE also said it would supply guns for a new multibillion-dollar warship from the U.S. Navy. The company will equip 10 ships being built by a Lockheed Martin Corp-led team of contractors with 57mm Mk 110 gun systems.

del.icio.us	Digg	Reddit
YahooMyWeb	Google	Facebook

Memory Foam Mattress Review

SPACE MEDIA NETWORK PROMOTIONS Solar Energy Solutions Tempur-Pedic Mattress Comparison ... Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News