Boeing Co. to acquire Argon ST
- June 30, 2010
The Boeing Co. has entered an agreement to buy Fairfax-based Argon ST for $775 million.
Fairfax-based Argon ST is a developer of intelligence and surveillance sensors for government and military agencies.
The agreement to acquire Argon ST advances Boeing’s growth strategy and expands its capabilities to address cyber and intelligence markets.
“We are very pleased to join The Boeing Company,” Terry Collins, chairman and CEO of Argon ST, said in a statement. “Our employee teams know each other well, and we are excited to now continue our combined support to our warfighters and first responders as one company.”
After the merge, Argon ST will be a stand-alone subsidiary of Boeing and a new division of Boeing Network & Space Systems, a business within the Boeing Defense, Space & Security operating unit. Collins’ management team will still head Argon ST.
The purchase agreement is subject to shareholder and regulatory approval.