BAE Systems purchases L-1's Intelligence Services Group
BAE Systems is to acquire L-1's Intelligence Services Group after successful negotiation strategies
BAE Systems has announced the completion of its acquisition of L-1 Identity Solutions Intelligence Services Group following negotiation strategies employed by the firm.
The firm revealed it paid a purchase price if around $297 million for the group, which is made up of SpecTal LLC Advanced Concepts and McClendon LLC.
According to Virginia-based BAE Systems, the new acquisition will enable the ability of the firm to meet the needs of its customers, which include governments, defence organisations and security firms.
John Gannon, president of the BAE System Intelligence and Security arm, said that the security and intelligence needs of the firm's customers are "dynamic and changing".
"Our newest employees from ISG represent a tremendous asset as we continue to deliver premier services to our customers," he said.
ISG staff will add to BAE System's existing workforce of some 100,000 people globally. BAE Systems is the world's second biggest defence company based on revenue from 2009 and boasts customers in over 100 nations.