BAE Systems
BAE Systems acquired the Collins Aerospace Military Global Positioning System (GPS) business from Raytheon Technologies Corporation for $1.925 billion. Based in Cedar Rapids and Coralville, Iowa, with a workforce of approximately 700 employees the Military GPS business had been a pioneer in its field for more than 40 years and with a global installed base in excess of 1.5 million devices on more than 280 airborne, ground, and weapon system platforms. The business designs and produces advanced, hardened, and secure GPS products with a range of form factors, including products designed for space-constrained and harsh environments. At the time of acquisition, it was developing next-generation GPS technologies for the U.S. military – including M-Code – to further improve security and anti-jamming capabilities for critical defense applications.
T.J. Wallace acted as the buy-side advisor to BAE Systems for this transaction and provided a fairness opinion to the Board of Directors of BAE Systems plc.
