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BAE To Sell Flight Systems Unit To Calspan

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Britain's BAE Systems recently said it has agreed to sell its California-based Flight Systems business unit to Calspan Corp. for $62.5 million in cash as it focuses its on its role as a developer and systems integrator. Terms of the deal include an earn-out provision based on the revenues of Flight Systems over the next five years. The transaction is subject to regulatory approvals and to the receipt of financing by Calspan. "This sale is consistent with our strategy to…

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