CAE to acquire L3 Harris Military Training business for $1.05 billion
NewsMarch 01, 2021
MONTREAL. Training and technology company CAE will acquire the L3Harris Military Training business for $1.05 billion, subject to customary adjustments.
According to a CAE news release about the pending deal, the L3Harris Military Training business includes Link Simulation & Training, Doss Aviation, and AMI: L3Harris Link is a leading provider of military training solutions for the U.S.; Doss Aviation contracts for initial flight training to the U.S. Air Force; while AMI designs and manufactures simulator hardware.
Marc Parent, CAE president and CEO, said of the acquisition: "The proposed acquisition represents a significant value creation opportunity for all CAE stakeholders. It accelerates our growth strategy in defense and security and is highly complementary to our core military training business, broadening our position in the United States. We are adding new customers, experience on new platforms, and building our depth of expertise to address all domains – air, land, sea, space, and cyber – as well as expanding into adjacent markets such as mission and operations support. This proposed transaction will provide greater balance to CAE across businesses and geographies, and like our recent acquisitions in the civil aviation market, it demonstrates our focus on bolstering and expanding our position in the markets we serve. We are making investments with a view to emerge from the pandemic stronger and prepared to meet the growing demands of our customers."
