
CAE announced that it has concluded a conditional agreement with Textron (NYSE: TXT) to acquire TRU Simulation + Training Canada Inc. (TRU Canada) for a cash consideration of approximately US$40 million, excluding post-closing adjustments. The closing of the transaction is subject to customary conditions and regulatory approvals.
The acquisition of TRU Canada expands CAE’s global installed base of commercial flight simulators and customers, and the addressable market for simulator lifecycle support services. TRU Canada also brings with it a backlog of simulator orders, full-flight simulator assets and provides access to a number of airline customers globally.
TRU Canada is CAE’s second announced acquisition in the last two weeks and demonstrates the Company’s commitment to deploying the capital it is raising to strengthen the Company’s position across its markets. The acquisition is aligned with CAE’s strategic priorities and meets the strict financial parameters it has in place. It is expected to be accretive to earnings in its first full year.
“We look forward to integrating the TRU Canada business within CAE. This acquisition demonstrates our ability to bolster our position and expand our addressable market and our global customer base during this unprecedented period of disruption. Along with the recently announced FSC acquisition, we have been able to make investments that are expected to better enable CAE to meet the global demands of our customers in support of their training and simulation needs,” said Marc Parent, CAE’s President and Chief Executive Officer.
Related Posts
- Airbus unveils Flightlab testbed for new technologies
- Bristow renews service with Navblue
- Rheinmetall to supply digital classroom for German Navy NH90 training
- Garmin honored with consecutive On-Time Delivery Awards from Airbus
- Kaman Announces New Order for the K-MAX®
- Bell Evaluates Unique APT Configuration in Canada
- Eye In The Sky – Flight Data Recorder – achieves NZ certification
- Most US Helicopter Accident Indicators Pointed in Right Direction During 2020
- FAA Accepting Applications for Workforce Development Grants
- Bell marks 40 years of the 412
- NHV achieves ISO 9001:2015 Re-Certification
- Aero Asset report on Q4 pre-owned twin turbine market
- US helicopters conduct unique training with Greek military
- Devon Air Ambulance flies 1101 missions in 2020
- HAI caves in and cancels Heli-Expo 2021
- 21-Jan-21 ZT-RRT Bell 430 Bergville, South Africa (5F)
- NATA Supports New FAA Online Tool Easing Access to Aviation Safety Guidance
- Bid deadline for Pawan Hans extended by a month
- Air traffic controller saves CV-22 and six crew
- HeliOffshore 2021 Conferences goes virtual