CAE today announced it has concluded a conditional agreement with Textron to acquire TRU Simulation + Training Canada Inc. 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.
CAE explains the acquisition of TRU Canada expands its global installed base of commercial flight simulators and customers, and the addressable market for simulator lifecycle support services. TRU Canada also holds a backlog of simulator orders and full-flight simulator, while providing access to global airline customers.
TRU Canada is CAE’s second announced acquisition in the last two weeks. The Montreal company on Nov. 17 announced it had acquired all of the issued and outstanding shares of Flight Simulation Company B.V. for a cash consideration of approximately €70 million (approximately $108 million).
“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,” said Marc Parent, President and CEO, CAE.