CAE (NYSE: CAE) has agreed to buy the military aviation training business of Bombardier for approximately $15.9 million in an effort to further help defense customers train future airmen.
The Bombardier unit works with the Royal Canadian Air Force and allied forces as a prime contractor in the NATO Flying Training in Canada program, CAE said Monday.
“We plan to expand the NFTC program, and leverage our new capabilities into future integrated training systems programs worldwide, ” said Marc Parent, CAE’s president and CEO.
CAE also seeks to deliver classroom and simulation pilot training services at NFTC base facilities in Moose Jaw, Saskatchewan and in Cold Lake, Alberta, through the acquisition.
The companies expect the transaction to close this year, subject to regulatory approval and other closing conditions.
