Safran Enters Exclusive Talks to Buy Navigation Technology Company
06 Décembre 2021 - 06:42PM
Dow Jones News
By Cristina Roca
France's Safran SA has entered exclusive talks to acquire Orolia
SA, a company that provides technology used in civilian, military
and space operations, it said Monday.
The aerospace and defense company is in talks to buy Orolia from
Eurazeo SE, and envisions expanding it under Orolia's current chief
executive, Jean-Yves Courtois.
"This acquisition represents a unique opportunity for Safran and
Orolia to extend their Resilient [Positioning, Navigation and
Timing] solutions, through their remarkable complementarities,"
Safran said.
Terms of the deal weren't disclosed.
Orolia is expected to generate revenue of 100 million euros
($113.1 million) in 2021, Safran said.
Orolia would be consolidated into Safran's equipment and defense
division upon closing of the deal, which is expected to take place
around mid 2022.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
December 06, 2021 12:27 ET (17:27 GMT)
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