BAE Systems North America has reached a definitive agreement to purchase all of the stock of MEVATEC Corporation of Huntsville, Alabama for $82 million in cash, which includes an element of potential deferred consideration.
According to BAE Systems, MEVATEC is a fast-growing provider of professional technical services to the US Department of Defence; civilian, federal, state, and local government agencies; and commercial businesses. MEVATEC is also a leader in missile defence, joint interoperability, outsourcing, and business process re-engineering.
‘The acquisition of MEVATEC is part of our strategic intent to focus on markets that will enhance the effectiveness of existing and future military systems,’ said Mark Ronald, Chief Operating Officer, BAE SYSTEMS plc, and President and Chief Executive Officer, BAE SYSTEMS North America.
‘MEVATEC complements BAE SYSTEMS business in professional services and will help strengthen our position in the global engineering and technical services business,’ he added.
Closing of the transaction is expected to occur within 45 days and is subject to completion of certain regulatory reviews and approvals.