Author: Ramona Adams|| Date Published: February 22, 2016
CAE (NYSE: CAE) has agreed to acquire the commercial aviation training business of Lockheed Martin (NYSE: LMT) for an undisclosed sum with no timeframe given for the transaction’s projected closure.
Montreal-based CAE said Monday said it seeks to expand its customer-installed base of commercial flight simulators and add new assets such as full-flight simulators, simulator parts and equipment, facilities, technology and additional employees.
“We look forward to servicing an expanded customer installed base with this relatively small bolt-on acquisition and view positively the opportunity to pick up certain useful assets and to create synergies with our existing business, ” said Marc Parent, CAE president and CEO.
Conditions in the acquisition agreement include employee-related consultation procedures and regulatory approvals.
By Chris Crowder, executive vice president, GovCon, Unanet Across government contracting, many leaders feel good about their pipelines. Opportunity volume looks strong.…
Sabel Systems Technology Solutions has appointed Stephen Vukovich, an IT implementation project manager, as interim senior vice president and president…
Defensive cyber has become foundational to federal digital modernization strategy, shaping how agencies approach cloud adoption, AI integration and enterprise…
CAE (NYSE: CAE) has agreed to acquire the commercial aviation training business of Lockheed Martin (NYSE: LMT) for an undisclosed sum with no timeframe given for the transaction’s projected closure.
