ThyssenKrupp Technologies and EADS have signed an agreement with BAE Systems on the joint acquisition of Atlas Elektronik, Bremen, Germany. In accordance with the agreement, ThyssenKrupp Technologies will hold 60 percent of Atlas and EADS 40 percent. Both companies will pool their competencies in platform, electronic and system activities in the naval field, thus creating a strong naval electronics and systems company in Bremen. In this way, the consortium forms a solid base for preserving jobs and securing know-how in the country. The acquisition will be completed as soon as the relevant supervisory boards and the relevant antitrust authorities have given their go-aheads.

With a workforce of 1750, Atlas Elektronik is a leading company for electronics and systems and specializes in equipment and systems for naval forces. It has a balanced technology base and product program for submarines and surface vessels. It is a market leader in the development of integrated sonar systems for submarines and an important supplier to ThyssenKrupp Marine Systems. EADS has complementary activities in the field of naval electronics and systems integration that will strengthen, broaden and significantly improve the competitiveness of this business.

The joint acquisition will considerably strengthen Atlas Elektronik in Bremen, with the newly created 'Maritime Electronics House' being in a position to profit from the expertise and experience of both parent companies.

Stefan Zoller, CEO of EADS Defence and Security Systems, commented, "With this step, we are making a significant contribution to the consolidation of the German naval system business, thus strengthening our position in the national and European consolidation process. In this way, our consortium is creating sustainability and technological leadership as well as long-term employment perspectives for the Bremen site."