May 4, 2020 / 6:26 AM / a month ago

BAE Systems completes $275 million airborne tactical radios deal

FILE PHOTO: Trade visitors walk past an advertisement for BAE Systems at Farnborough International Airshow in Farnborough, Britain, July 17, 2018. REUTERS/Toby Melville

LONDON (Reuters) - British defence company BAE Systems (BAES.L) said it had completed the acquisition of Raytheon’s airborne tactical radios business, paying $275 million (221.1 million pounds) out of existing cash resources to finalise the deal announced in January.

BAE announced the acquisition of the radio business plus a larger military-focused GPS unit for a total of $2.2 billion three months ago. Both were sold as a result of the merger of its U.S. rivals Raytheon RTX.N and United Technologies.

Reporting by Sarah Young, Editing by Paul Sandle

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