EADS to buy Vizada for $960 million

Plane maker and defense contractor European Aeronautics, Defence and Space Co. (EADS) plans to buy satellite communications company Vizada from Apax Partners LLP for about $960 million, Bloomberg reports.

France-based Vizada will boost the offerings of Astrium, the space unit of Paris- and Munich-based EADS, which has been looking to reduce its dependence on its Airbus aircraft unit.

[St. Louis Business Journal]