BAE Systems acquires Tenix Defense

Published 1 July 2008

BAE acquires versatile Aussie defense company; the acquisition grows BAE Australia significantly, taking the number of employees to more than 5,500 and current annual sales in excess of A$1.2 billion

BAE Systems has completed its acquisition of Tenix Defense after receiving all required approvals. The company announced it had entered into a definitive agreement to acquire Tenix Defence on 18 January 2008 for up to A$775 million in cash. The acquisition of Tenix Defense is part of the implementation of BAE Systems’ strategy to develop as the premier global defense and aerospace company through a multi-home market business focus. Tenix Defense will be integrated with the operations of BAE Systems Australia, headquartered in Adelaide. The acquisition grows the business significantly taking the number of employees to more than 5,500 and current annual sales in excess of A$1.2 billion.

Jim McDowell, CEO of BAE Systems Australia, said: “This transaction significantly enhances the depth and breadth of our capabilities in Australia. It adds a major naval business to our portfolio and significantly increases our land capability. We have restructured our organisation to reflect our presence in the new sectors and better to align with our customer. The combination of the two companies will enable us better to equip and support the Australian Defence Force for many years to come.”