BAE Buys U.S. Intelligence Services Unit For $296M

LONDON (AP) -- British defense contractor BAE Systems says it is buying a U.S. intelligence services business in a $296 million deal.

BAE said Monday that it has an agreement to buy the Intelligence Services Group of L-1 Identity Solutions, Inc.

BAE says the group is a provider of security and counter-threat capabilities to the U.S. government. L-1 is based in Stamford, Connecticut.

The deal is subject to approval by U.S. regulators.

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