Canada’s CAE [CAE] on Monday said it has agreed to acquire the commercial flight training business of Lockheed Martin [LMT], expanding its customer base and adding full-flight simulators and related equipment.
Terms of the deal, which is subject to regulatory approvals and employee consultation, were not disclosed. CAE said it can’t confirm timing to close the deal until after all approvals are received.
Lockheed Martin Commercial Flight Training has 300 employees, most of them in Europe. The business provides a full range of training solutions to include simulators, parts, equipment and instruction.
The Lockheed Martin business provides a complete suite of commercial aviation training products and services including full-flight simulators for Boeing’s [BA] 737, 767, 777 and 787 aircraft, and Airbus Group’s Airbus A320, A330 and A340 aircraft. The business is developing a flight simulator for the Airbus A350.
“We look forward to servicing an expanded customer installed base with this relatively small bolt-on acquisition and view positively the opportunity to pick up certain useful assets and to create synergies with our existing business,” Marc Parent, CAE’s president and CEO, said in a statement. “CAE’s sole focus is training, and with a near 70-year track record, we are the only pure play company resolutely committed to the long-term training and simulation needs of our customers in civil, defense and healthcare.”