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Thales — M&A Activity 2012
Apr 11, 2012
1699_iss_2012-04-11_30c5cd75-7e6d-49df-9a3f-7ba54e90e8d0.pdf
M&A Activity
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Thales has signed an agreement with L-3 Communications for the sale of its civil fixed-wing flight simulation business
Neuilly-sur-Seine – 11 April, 2012 – Thales announces today that it has reached an agreement on the sale of its fixed-wing civil simulation and aircrew training activities to L-3 Communications. The transaction would include the civil fixed-wing simulation activities in Crawley, UK, and its flight simulation training centre located in Bangkok, Thailand.
Thales will continue to develop its military system capabilities which will remain part of its key product portfolio. However Thales feels that L-3 Communications Link Simulation and Training UK Ltd will be better placed to maximise the potential of the civil simulation business. This divestment allows Thales to streamline its business portfolio while securing the future of its core activities.
Thales's civil fixed-wing flight simulation business is a global producer of high-end simulation equipments for major airlines and aircraft OEMs worldwide. The fixed-wing civil simulation business has approximately 400 employees and generated revenues of €97 million in 2011.
Thales will retain and continue to develop its simulation and training business in military and government markets, as well as rotary-wing aircraft civil and military markets. The agreement includes a partnership with L-3 to secure the supply chain of civil components that Thales may require for its military business, which remains a strategic business for Thales.
The transaction is expected to close in 2012, subject to regulatory approvals and other customary closing conditions.
About Thales
Thales is a global technology leader for the Defence & Security and Aerospace & Transport markets. In 2011, the company generated revenues of €13 billion with 67,000 employees in 56 countries. With its 22,500 engineers and researchers, Thales has a unique capability to design, develop and deploy equipment, systems and services that meet the most complex security requirements. Thales has an exceptional international footprint, with operations around the world working with customers and local partners.
www.thalesgroup.com
Press contact:
Alexandre Perra Thales – Media Relations +33.(0)6.71.28.52.15 [email protected]