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SMALL BUSINESS
General Dynamics unit completes $643M buy of Axsys
AP ONLINE
posted: 88 DAYS AGO
FAIRFAX, Va. (AP) — A division of General Dynamics Corp. said Wednesday it completed its previously announced acquisition of Axsys Technologies Inc. for $643 million.
General Dynamics Advanced Information Systems acquired Axsys, a maker of high-performance electro-optical and infrared sensors, for $54 per share.
Axsys' solutions are typically used in applications like long-range surveillance cameras and highly precise imaging telescopes. The company employs roughly 1,000 workers in Cullman, Ala.; San Diego and Grass Valley, Calif.; Nashua, N.H.; and Rochester Hills, Mich.
Shares of General Dynamics fell 36 cents to $58.24 in afternoon trading, while shares of Rocky Hill, Conn.-based Axsys fell 2 cents to $53.99.
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