Posted on: 22 February 2016 by Mark Howells
CAE has confirmed that it has conditionallly agreed a deal with Lockheed Martin to acquire Lockheed Martin Commercial Flight Training (LMCFT).
The transaction is subject to usual conditions, such as employee related consultation procedures and regulatory approvals and will be concluded when all these are completed.
CAE says this acquisition will “expand its customer installed base of commercial flight simulators and obtain a number of useful assets including full-flight simulators, simulator parts and equipment, facilities, technology and a talented workforce”.
“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,” explained Marc Parent, president and chief executive officer, CAE (pictured). “CAE's sole focus is training, and with a near 70-year track record, we are the only pure-play company resolutely committed to the long-term training and simulation needs of our customers in civil, defence and healthcare.”