BAE sets sights on Manchester firm

BAE Systems has announced plans to acquire Oasys Technology, a Manchester-based high-tech firm.In its announcement, the defense contracting giant didn’t disclose the purchase prices, but he Web site Proactive Investors put the cost at $25 million, with another $30 million in potential “earnouts.”Oasys Technology — currently owned by 5 individual employees — develops and manufactures electro-optical technology that’s used in night-vision, reconnaissance & surveillance, helmet-mounted displays), laser sub-systems and illumination and imaging systems.Oasys has 65 employees at its 40,000-square-foot manufacturing facility in Manchester and will move to a BAE Systems facility in Nashua.The acquisition requires regulatory approval and is expected to close in the fourth quarter. — JEFF FEINGOLD/NEW HAMPSHIRE BUSINESS REVIEW