L-3 to Buy Thales Civil Aircraft Simulation Unit for $132M; Michael Strianese Comments

L-3 Communications has agreed to acquire Thales Training & Simulation Ltd’s civil aircraft simulation and training business for an estimated $132 million cash.

L-3 expects the transaction to close in the summer of 2012 and expects it to immediately increase its earnings per share.

The company also expects civil aircraft training and simulation business to generate sales of approximately $150 million for the 12 months ending Dec. 31, 2012.

Chairman, President and CEO Michael T. Strianese said the company intends to expand into the civil simulation market.

L-3 plans to integrate the civil aircraft simulation and training business into its link simulation and training organization, within its electronic systems group.

Thales’ simulation and training business is based in Crawley, U.K. and employs nearly 400 people.

The business’ products comply with regulations from the U.S. Federal Aviation Administration, European Aviation Safety Agency and International Civil Aviation Organization.

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