BAE Systems has entered into a definitive stock purchase agreement for the acquisition of Ball Aerospace, part of the Ball Corporation, as part of a deal valued at over US$5 billion.

Subject to customary closing adjustments, the acquisition is currently valued at $5.55 billion in cash.

The acquisition is expected to strengthen BAE Systems’ multi-domain offerings, with Ball Aerospace providing mission critical space systems and defence technology across land, air, and sea.

It currently has customer relationships with the US Department of Defense, the intelligence community, and civilian space agencies.

According to a statement from BAE, Ball Aerospace will be an “excellent” cultural fit – boasting a strong track recording in innovation and product development and has invested $1 billion in facilities and capabilities over recent years”.

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