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Frequentis AG — M&A Activity 2021
Feb 23, 2021
745_iss_2021-02-23_fe81057a-5ddf-42d3-99f1-f8056e5d4c25.pdf
M&A Activity
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publication: 23.02.2021 13:00 source: http://adhoc.pressetext.com/news/1614081600630 keywords: Frequentis AG / L3Harris / Air Traffic Management / product portfolio
Public disclosure of inside information according to article 17 MAR
Frequentis AG: FREQUENTIS acquires parts of the ATM product segment from L3Harris Technologies Inc
Vienna (pta029/23.02.2021/13:00) - Today, Frequentis AG has signed an agreement to acquire the ATM voice communications and arrival management product business from the US company L3Harris Technologies Inc for a purchase price of USD 20.1 million (about EUR 16,58 million) subject to customary net debt and working capital based purchase price adjustments at Closing. The transaction - which is subject to competition clearance and regulatory approvals - comprises the acquisition of
- * the ATM voice communication systems product line of L3Harris, USA;
- * the Harris ATC Solutions business unit of Harris Canada Systems Inc., Gatineau, Canada;
- * 100% of the shares in Harris C4i Pty. Ltd., Melbourne, Australia; and
- * 100% of the shares in Harris Orthogon GmbH, Bremen, Germany;
and will complement Frequentis' ATM product portfolio and is expected to contribute (post Closing) revenues of some EUR 30 million p.a. to Frequentis. In addition to such acquisitions, L3Harris and Frequentis have entered into cooperation agreements under which Frequentis will provide voice communication products for use in L3Harris' large-scale solutions and services business.
The transaction is expected to be completed in the second half of the year 2021 and is, subject to competition clearance and regulatory approvals. The transaction consideration will be financed from Frequentis' cash resources and existing credit lines. Following completion of the acquisition, Frequentis AG will retain a strong balance sheet and liquidity position.
About FREQUENTIS
Frequentis, headquartered in Vienna, is an international supplier of communication and information systems for control centers with safety-critical tasks. Such 'control center solutions' are developed and marketed by Frequentis in the business sectors Air Traffic Management (civil and military air traffic control, air defence) and Public Safety & Transport (police, fire brigade, ambulance services, shipping, railways). As a global player, Frequentis operates a worldwide network of branches, subsidiaries and local representatives in more than 50 countries.
Products and solutions from Frequentis can be found in over 30,000 operator working positions and in approximately 140 countries. Founded in 1947, Frequentis considers itself to be the global market leader in voice communication systems for air traffic control with a market share of around 30%. In addition, the Frequentis Group's AIM (aeronautical information management) and AMHS (aeronautical message handling) systems, as well as GSM-R systems for Public Transport are industry leading global solutions.
The shares of Frequentis AG are traded on the Vienna and Frankfurt Stock Exchange under the ticker symbol FQT (ISIN: ATFREQUENT09). In 2019, the Frequentis Group had about 1,850 employees worldwide and generated revenues of EUR 303.6 million and EBIT of EUR 17.2 million.
For more information, please visit https://www.frequentis.com
Brigitte Gschiegl, Director Corporate Communications, Frequentis AG,
[email protected], +43 1 81150-1301
Stefan Marin, Head of Investor Relations, Frequentis AG, [email protected], +43 1 81150-1074
| emitter: | Frequentis AG Innovationsstraße 1 1100 Wien Austria |
|---|---|
| contact person: | Stefan Marin |
| phone: | +431811501074 |
| e-mail: | [email protected] |
| website: | www.frequentis.com |
| ISIN(s): | ATFREQUENT09 (share) |
| stock exchanges: | official trade in Vienna |
| other stock exchanges: |
Regulierter Markt in Frankfurt |
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