BAE Systems Mission Solutions announced on Friday, April 27, the signing of an agreement to sell its 50% interest in LH Systems, to Leica Geosystems for $15M.
Headquartered in San Diego, LH Systems was founded on June 1, 1997 as a joint venture of BAE Systems and Leica Geosystems. Since that time, LH Systems, has established itself as a pioneer and one of the leaders in aerial photography, remote sensing, and photogrammetry.
This sale underpins the intention on the part of BAE Systems Mission Solutions and Leica Geosystems to continue a strategic relationship for their Visual Information Products that began in 1993 with an exclusive distribution agreement between BAE Systems and Leica.
As part of the transaction, the parties have agreed to continue the SOCET SET development, distribution, and licensing agreement between BAE Systems and LH Systems for a minimum of 2 more years.
BAE Systems remains committed to the development of geospatial products and solutions. LH Systems will continue as a tenant of BAE Systems in San Diego. The transaction closing is anticipated in 45 to 60 days after receipt of the necessary regulatory approvals.
