LONDON \u2014 BAE Systems has engaged external advisers to look at selling off part of its US-based information technology business, Europe’s biggest defense contractor said Friday.<\/p>\n\n\n\n
The company said in a statement that the move was had been <\/span>prompted by external interest and a number of inquiries regarding acquiring the manpower and services business of the group’s US intelligence and security sector (ISS).<\/p>\n\n\n\n As a result of the interest, the company said it has “engaged external advisers to support a strategic assessment of these businesses.”<\/p>\n\n\n\n BAE doesn’t break out its sales by business segment, but industry sources said they <\/span>estimated<\/span> the activities under review employ around 8,000 people and account for annual revenues of about US $1.75 billion.<\/p>\n\n\n\n A sale decision would likely see ISS dissolved and three of its four business sections exit BAE, said <\/span>a second industry source said.<\/p>\n\n\n\n Those are: global analysis; global information technology solutions, which covers services, networking and other activities; and much of the integrated electronics and warfare systems business, would likely be divested said <\/span>the source said.<\/p>\n\n\n\n A fourth sector covering geospatial intelligence would be retained and moved to the company’s electronics business sector, he said.<\/p>\n\n\n\n No date has been put on completion of the assessment.<\/p>\n\n\n\n Morgan Stanley and Stone Key Partners have been appointed to undertake the review of the business.<\/p>\n\n\n\n The British-based company said the assessment would not take in the product-focused geospatial intelligence business or its cybersecurity activities.<\/p>\n\n\n\n BAE said there can be “no certainty that any transaction will occur.”<\/p>\n\n\n\n Other service and support-based activities in the US naval and munitions sectors remain unaffected by the move.<\/p>\n\n\n\n Christopher P. Cavas<\/b> in Washington contributed to this report<\/p>\n","protected":false},"excerpt":{"rendered":" BAE Systems has engaged external advisers to look at selling off part of its US-based information technology business, Europe’s biggest defense contractor said April 25.<\/p>\n","protected":false},"author":7,"featured_media":82307,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_meta-robots-noindex":"","_yoast_wpseo_meta-robots-nofollow":"","_yoast_wpseo_canonical":"","_acf":"","_yoast_wpseo_primary_category":12,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_smg_distribution_targets":[]},"categories":[33,12,19],"tags":[],"coauthors":[3351],"class_list":["post-39000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home","category-industry","category-pentagon"],"acf":{"subheadline":"","legacy_arc_id":"SBRLGT4KI5GEFDAX327GNRD45I","arc_canonical_url":"\/industry\/2015\/04\/24\/bae-looks-to-exit-part-of-us-it-business\/","remove_feature_photo":false,"is_sponsored":false,"subtype":"","redirect_url":"","disable_inline_ads":false,"native_logo_pretext":"Presented By:"},"yoast_head":"\n