BAE Systems to snap up Collins GPS business for $2bn

UK defence group BAE Systems has unveiled plans to scoop up Collins Aerospace’s military global positioning system business as well as Raytheon’s airborne tactical radios business in deals worth $2.2bn. The FTSE 100 company said it has forged an agreement to buy Collins’ GPS unit for $1.93bn. It has also agreed to acquire the radios business from Raytheon for $275m in cash.