BAE Systems (LON:BA) is set to acquire New Hampshire based electro-optical engineering specialist OASYS Technology in a deal worth US$25m.
OASYS develop and manufacture electo-optical technology, which is used in night-vision, reconnaissance & surveillance, Helmet Mounted Displays (HMDs), laser sub-systems as well as illumination and imaging systems.
The specialist engineering group is currently owned by 5 individual employees.
The $25m cash deal also includes a further $30m in potential ‘earnouts’ and BAE is expected to fund the transaction from its cash resources.