LONDON (Reuters) - British defence company BAE Systems (L:BAES) said it had completed the acquisition of Raytheon (NYSE:RTN)'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 (N:RTX) and United Technologies.