May 23, 2019 / 6:24 AM / a month ago

Britain's Serco buys U.S. defence supplier NSBU for $225 mln

EDINBURGH, May 23 (Reuters) - British outsourcer Serco will buy Alion’s Naval Systems Business Unit (NSBU), a provider of ship and submarine engineering services to the U.S. Navy, for $225 million, Serco said on Thursday.

The purchase of NSBU will be financed through debt and equity and is expected to boost earnings from its first full year of ownership in a “significant addition to the capability and scale of Serco’s defence business,” the group said. (Reporting by Elisabeth O’Leary; Editing by Mark Potter)

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