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Safran SA EU:SAF Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.13 0.14% 96.01 95.40 96.13 98.78 95.61 96.95 628,179 16:40:00

Safran Enters Exclusive Talks to Buy Navigation Technology Company

06/12/2021 5:42pm

Dow Jones News


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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)

Copyright (c) 2021 Dow Jones & Company, Inc.

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