Axsys Technologies Now Part Of General Dynamics Unit

FAIRFAX, Va. (AP) -- A division of General Dynamics Corp. said Wednesday it completed its previously announced acquisition of Axsys Technologies Inc. for $643 million.

General Dynamics Advanced Information Systems acquired Axsys, a maker of high-performance electro-optical and infrared sensors, for $54 per share.

Axsys' solutions are typically used in applications like long-range surveillance cameras and highly precise imaging telescopes. The company employs roughly 1,000 workers in Cullman, Ala.; San Diego and Grass Valley, Calif.; Nashua, N.H.; and Rochester Hills, Mich.

Shares of General Dynamics fell 36 cents to $58.24 in afternoon trading, while shares of Rocky Hill, Conn.-based Axsys fell 2 cents to $53.99.

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