[SatNews] BAE Systems has entered into a definitive agreement to acquire Fairchild Imaging, Inc., a privately held company specializing in solid-state electronic imaging components, cameras, and systems for aerospace, industrial, medical, and scientific imaging applications.

BAE Systems currently owns 8.7 percent of the equity of Fairchild Imaging and, upon completion of the acquisition for a cash consideration of approximately $86 million, will have acquired all of the remaining outstanding equity. The proposed acquisition of Fairchild Imaging is consistent with BAE Systems' strategy to grow its electronic systems business and will complement existing electro-imaging capabilities, technologies, and product offerings. Fairchild Imaging employs approximately 150 people at its facility in Milpitas, California, and upon successful closing of the acquisition, will become part of BAE Systems' Electronic Solutions sector, headquartered in Nashua, New Hampshire. The proposed acquisition of Fairchild Imaging follows BAE Systems' acquisition of OASYS Technology in 2010. OASYS Technology specializes in the design and manufacture of electro-optical systems and subassemblies for aerospace, defense, industrial and commercial markets. The acquisition is conditional, among other things, upon receiving certain regulatory approvals and is expected to close in the first half of 2011.