General Dynamics buys Axsys for $54 a share in deal worth $643 million

By Lisa Kerner

Charlotte, N.C., Sept. 3 - General Dynamics Advanced Information Systems, a business unit of General Dynamics Corp., completed its acquisition of Axsys Technologies, Inc.

Axsys shareholders received $54 in cash per share in the transaction that cost approximately $643 million, a General Dynamics news release said.

"Axsys Technologies strengthens our portfolio of offerings and discriminators in the tactical intelligence, surveillance and reconnaissance market," Lou Von Thaer, president of General Dynamics Advanced Information Systems, said in the release.

Rocky Hill, Conn.-based Axsys produces surveillance and imaging systems, and General Dynamics is a Falls Church, Va.-based defense contractor.

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