BAE Systems on the Lookout for Cyber Acquisitions

Dick Olver, BAE Systems

Defense contractor BAE Systems is looking for acquisitions in the electronics, cybersecurity and intelligence fields to boost the company’s growth strategy, chairman Dick Olver told Reuters.

BAE is “always scanning and looking at opportunities where we can reinforce the good bits of business which are in line with our strategy,” Olver said. That strategy, he said, involves expanding the firm’s services businesses, and growing its electronics, cyber and intelligence businesses.

Olver said the companies they were looking for tended to be very highly priced; however, BAE’s balance sheet was “very strong, which gives us the flexibility to think about capital allocation in several directions,” he added.

The British defense firm has “a very important security business” that encompasses cybersecurity and intelligence, Olver said.

“[T]hat business is also having conversations in India, so I think what you’ll see us doing is using our competitive advantage, particularly in land and air, and in security,” he noted.

Calling Brazil “a very interesting area,” Olver said discussions in the Latin American nation will most likely focus on naval systems.

“Type 26 is the global combat surface ship . . .  and we would like to engage the Brazilians in that,” he told Reuters.

 

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