Australian government to buy Canberra-based radar company for nearly $500m

RAAF F/A-18F Super Hornet. The deal to take ownership of CEA Technologies will aid Australia’s radar detection capabilities, the government says. Photograph: Asanka Ratnayake/Getty Images

The Australian government will spend nearly $500m to take majority ownership of a Canberra-based defence contractor that makes radar systems.

The deal to take CEA Technologies Pty Ltd into public hands will ensure “the continued development of Australia’s radar capability in an increasingly complex strategic environment”, the government says.