BAE plans acquisition of Denmark's ETI

FARNBOROUGH, England, Dec. 23 (UPI) -- BAE Systems has entered into a definitive agreement to acquire Denmark's ETI A/S for $211.5 million in cash to grow its cyber and intelligence business.

ETI is a leading cyber and intelligence company providing advanced technology products and services to government and commercial clients worldwide, generating $61 million in sales in the year to June 2010.


In addition to its operations in Denmark, ETI has operations in Britain, the United States, Asia and the Middle East.

"The combination of Detica and ETI will create a strong competitor well positioned to offer customers an extensive range of cyber and intelligence services," said Ian King, chief executive of BAE Systems.

Detica is a business and technology consulting firm owned by BAE Systems.

The acquisition is conditional, among other things, upon receiving regulatory approval and is expected to close in the first quarter of next year.

Additional details of the proposed acquisition were not disclosed.

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