CAE has signed an agreement to acquire Flightscape Inc. for approximately C$18 million.
MONTREAL, Aug. 14, 2007 - CAE has signed an agreement to acquire Flightscape Inc. for approximately C$18 million. Flightscape is an Ottawa-based safety company providing expertise in flight data analysis and
flight sciences.
Flightscape's core product and product service offerings are based on the gathering and analysis of aircraft flight data to deliver improved flight safety. It offers a suite of aviation safety products and services related to flight operations quality assurance, flight data management, incident investigation and accident prevention. The company's customers include many leading airlines and a majority of international investigation authorities and OEMs. Flightscape also powers IATA's web-based Flight Data Analysis Service for airlines seeking an outsourced solution that provides highly specialized expertise, infrastructure savings and a turnkey safety solution.
"Our overriding mission is to enhance the safety and operational efficiency of our customers. The acquisition of Flightscape is part of our strategy to accomplish that goal," said Jeff Roberts, CAE's Group President, Innovation and Civil Training & Services. "CAE can bring its global reach, customer relationships and brand to grow this business and to extend its products and product service offerings into new areas. Moreover, Flightscape's capabilities will enhance CAE's own offerings for simulation training products as well as for the design and delivery of training services."
"Flightscape is proud to be associated with CAE, a global leader in training and simulation," said Flightscape owners Robert Runolfson, Michael Poole, and Robert Hoyle. "Flightscape's focus on accident investigation and prevention programs are a natural fit with CAE. We believe this move will accelerate our growth and enhance the products and services we are able to offer our customers." The transaction is expected to close by August 31, 2007.
|
