Boeing (NYSE: BA) started its tender offer to purchase all of the outstanding shares of common stock of Argon ST Inc. Yesterday, the company also announced its plans to acquire Narus, a cybersecurity firm based in Calif.
Once the tender offer is completed, Argon ST shareholders will receive $34.50 in cash. The board of directors at Argon ST unanimously determined that the offer was in the best interests of the company and the shareholders. The offer is currently scheduled to expire at the end of the day on Wednesday, Aug. 4, 2010.
The decision to acquire Narus comes after an extensive partnership between the firms.
“This acquisition is another step forward in our strategy to develop integrated solutions for better network visibility, threat detection, and cybersecurity,” said Roger Krone, president of Boeing Network & Space Systems, a business within the Boeing Defense, Space & Security (BDS) operating unit. “Narus’ innovative employees and unique capabilities to secure complex networks will be a significant benefit to Boeing and our customers.”