The transaction closed at a purchase price of $5.5 billion (approximately £4.4 billion), which has been funded through existing cash and new external debt, said the company.
Ball Aerospace will be called Space & Mission Systems and become a fourth operating sector of BAE Systems.
“In recent years, we’ve said that we would seek out opportunities to grow our portfolio in advanced technology areas that meet our customers’ most urgent needs, and completing the acquisition of Ball Aerospace is an example of that strategy in action,” said Charles Woodburn, Chief Executive of BAE Systems.
