Boeing will spend $775 million to acquire Argon ST, of Fairfax, Va., a developer of command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) and combat systems.
"Combining the strength of Boeing with the experience of Argon ST will significantly accelerate our capabilities in sensors, communications technologies and information management," said Dennis Muilenburg, president and CEO of Boeing Defense, Space & Security. "Today's announcement follows two years of partnering with Argon ST's talented employees who, like Boeing employees, take pride in developing and deploying world-class engineering solutions for our customers."
Once acquired, Argon ST will be a stand-alone subsidiary of Boeing and a new division of Boeing Network & Space Systems. The transaction is expected to close by the end of the third quarter 2010.