ARLINGTON, Va., Sept. 20 (UPI) -- BAE Systems has announced a definitive agreement to acquire Connecticut's L-1 Identity Solution's intelligence group.
The buy of the firm's Intelligence Services Group, which is comprised of three companies, has a total purchase price of about $295.8 million.
"The acquisition of SpecTal LLC, Advanced Concepts Inc., and McClendon LLC will significantly advance our offerings to the U.S. intelligence community," Linda Hudson, president and chief executive officer of BAE Systems Inc. "Their capabilities will enhance BAE Systems' existing knowledge and expertise and will better position us to offer our government customers the security and intelligence support they need to complete their missions, now and in the future."
Upon successful closing, the more than 1,000 employees of the three firms will join the BAE Systems Intelligence & Security sector, which has headquarters in Arlington, Va.
The proposed acquisition is conditional upon receiving certain U.S. regulatory approvals and other considerations and is expected to close in the fourth quarter of this year.
