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COLOGNE, Germany — German sensor-maker Hensoldt has completed its purchase of defense electronics and logistics specialist ESG, gaining a foothold in that company’s activities supporting the F-35 fighter jet and P-8 Poseidon anti-submarine plane ordered by Berlin.
The takeover, announced last year as valued at €675 million (U.S. $726 million), took effect April 2 following approval by regulatory authorities here.
“The acquisition adds strong design and system integration capabilities to Hensoldt’s product and solutions business and creates a national champion in defence electronics,” Hensoldt said in a statement.
Hensoldt is a key player in the trinational Future Combat Air System program of Germany, France and Spain, on which the company has worked with ESG in a national consortium to develop the envisioned weapon’s networked sensors and weapons.
American firm Lockheed Martin picked ESG last year to provide logistics support for Germany’s future F-35 fleet of 35 jets. ESG is on tap for similar work for the Boeing-built P-8 Poseidon maritime-surveillance and submarine-hunting aircraft, of which Germany has ordered eight.
According to a Hensoldt statement, ESG employs about 1,400 people in Germany, the Netherlands and the United States, and it generated sales of about €330 million in 2023.
Hensoldt placed 51st in the most recent Defense News Top 100 list, which ranks global defense companies by defense-related revenue. The firm reported a defense revenue of $1.8 billion in 2022.
Sebastian Sprenger is associate editor for Europe at Defense News, reporting on the state of the defense market in the region, and on U.S.-Europe cooperation and multi-national investments in defense and global security. Previously he served as managing editor for Defense News. He is based in Cologne, Germany.
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