General Dynamics Advanced Information Systems is adding a major asset in image capturing technology with the purchase of Axsys Technologies Inc., a leader in the high-performance electro-optical and infra-red (EO/IR) sensors and systems and multi-axis stabilized cameras.
GDAIS, a division of General Dynamics, paid $54 in cash per share of Axsys Technologies’ outstanding common stock for a total price of about $643 million.
Axsys Technologies equipment is typically found in high-precision applications such as weapon systems, long-range surveillance cameras and imaging telescopes.
“Axsys Technologies strengthens our portfolio of offerings and discriminators in the tactical intelligence, surveillance and reconnaissance market,” said Lou Von Thaer, president of General Dynamics Advanced Information Systems.
Axsys employs approximately 1,000 workers in five principal locations: Cullman, Ala.; San Diego and Grass Valley, Calif.; Nashua, N.H.; and Rochester Hills, Mich.