BAE Systems Acquires Pitch Technologies
28 Nov 2007
Acquisition will expand company's capabilities in training and simulation solutions
Orlando, Florida - BAE Systems has entered into a definitive agreement to acquire the Swedish high-tech company Pitch Technologies AB (Pitch) for a cash consideration of 61.3 MSEK.
Founded in 1991 and headquartered in Linköping, Sweden, Pitch is an innovator of computer-based training and research simulation technologies. Some of the largest and most complex simulation programs in governments and industries worldwide, including those in NASA, Boeing and Mitsubishi, employ Pitch's state-of-the-art simulations products, services and solutions.
"The addition of Pitch to the BAE Systems family creates a world-class capability that will set a new standard for enterprise-level simulation interoperability and solutions for training and simulation," said Claes Erik Frölund, President of BAE Systems C-ITS business in Sweden.
The BAE Systems acquisition of Pitch is an advantageous one for both companies given that the C-ITS primary product line includes military training and simulation, air traffic control simulators and advanced distributed learning platforms.
Staffan Löf, President and CEO of Pitch Technologies said, "Being a part of BAE Systems gives us an excellent position for further development of our innovative products and technologies. It opens up new markets and key accounts worldwide. On the services side there are also considerable synergies between our infrastructure and architecture know-how and BAE Systems capabilities to realize innovative training and simulation solutions."
The expanded offerings are showcased at the BAE Systems and Pitch Technologies booths (3818 and 1400, Hall B) during this week's Interservice/Industry Training, Simulation and Education Conference (I/ITSEC) in Orlando, FL.
In Sweden, BAE Systems AB employs 2,000 people in three subsidiary companies with a turnover of 4,500 BSEK (appx. £320m).
