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GD Completes Acquisition of Axsys Technologies

DDN

Thursday, September 10th, 2009

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General Dynamics [GD] recently said it has completed its $643 million purchase of Axsys Technologies, expanding its design capabilities and product offerings in tactical sensors and imaging systems. GD said the deal would be neutral to earnings this year and accretive thereafter. GD paid $54 in cash per share for Axsys' stock. The acquisition was first announced in June (Defense Daily, June 5). Axsys was purchased by GD's Advanced Information Systems business unit. Axsys provides optics for the Army's Common…

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