BAE Systems, the UK's largest defence contractor, has completed the acquisition of a US company for approximately £150m.
The deal for Orlando-based Bohemia Interactive Simulations was first announced in November 2021.
The company has more than 325 employees around the world in countries including the United States, United Kingdom, Australia, the Czech Republic and Slovakia.
READ MORE: Norges Bank becomes second largest investor in Boohoo
The acquisition has been funded from BAE Systems' existing cash resources.
A BAE Systems statement said: "BISim will expand our modelling and simulation capabilities to meet evolving customer needs in the growing market for global military training, helping to protect military personnel, reduce the current environmental impacts of live training and support the carbon net zero ambitions of our customers and ourselves."
The news comes after shares in BAE Systems surged by more than 6% this morning (Monday, March 7) as Russia's invasion of Ukraine continues.
Sky News has also reported that Boris Johnson could increase the defence budget in the next few weeks.
Shares in BAE Systems also jumped by more than 14% last week because of the escalating war in Ukraine.
