Sunday, 16 November 2008

Boeing finishes acquisition of Tapestry Solutions

Boeing said Thursday it completed its acquisition of Tapestry Solutions, a San Diego-based company specializing in services and software systems that improve the tracking and distribution of equipment, spare parts and personnel for the U.S. Department of Defense and other agencies.

Tapestry will operate within Boeing’s St. Louis-based Integrated Defense Systems' Global Services & Support unit.

Terms of the deal were not disclosed.

The acquisition, announced in September, is part of Boeing's strategy to expand in the supply chain and logistics command and control markets.

Last month, Boeing said it also would buy St. Louis-based Federated Software Group, another logistics software firm.

A unit of Chicago-based Boeing Co. (NYSE: BA), Integrated Defense Systems is one of the world's largest space and defense businesses specializing in innovative and capabilities-driven customer solutions. Headquartered in St. Louis, Integrated Defense Systems is a $32.4 billion business with 72,000 employees worldwide.

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