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Electronics Production | December 29, 2010

BAE Systems to buy ETI A/S

BAE Systems has entered into a definitive agreement to acquire cyber and intelligence company ETI A/S for cash consideration of DKK 1.2 billion (EUR 161 million).
ETI generated sales of DKK 347 million in the year to June 2010 and employs approximately 260 people. It is headquartered in Denmark with operations in the UK, US, and the Asia and Middle East regions. The acquisition is conditional, among other things, upon receiving regulatory approval and is expected to close in the first quarter of 2011.

Ian King, Chief Executive BAE Systems, said: “The combination of Detica and ETI will create a strong competitor well positioned to offer customers an extensive range of cyber and intelligence services.”

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