DRS Technologies has announced that it has signed a definitive agreement to acquire the assets and certain liabilities of the Sensors and Electronic Systems (SES) business of Boeing for approximately $84 million, subject to adjustment.
SES is said to be a leading provider of advanced electro-optical airborne and naval surveillance and targeting systems, high-performance military infrared cooled sensor systems, and infrared uncooled sensor systems for military and commercial applications.
SES also is known for technical superiority in the development of high-performance focal plane array (FPA) sensors for space, ground and air-based applications.
Operating as part of Boeing’s Battle Management Command, Control and Communications (BMC3) and Strategic Systems business in the Boeing Space and Communications Group, SES has provided products and services for over 40 years to the US Department of Defence, US defence industry and international military forces.
It maintains extensive engineering, manufacturing, assembly, integration and product support capabilities.
The transaction is expected to close during DRS’s fiscal third quarter and is subject to the satisfaction of customary closing conditions.