Saab AB acquired a further stake in Akaer, a large Brazilian aerospace company, and concurrently Akaer acquired 100 percent of the shares in the Space and Defense Division (E&D) of the Brazilian optronic company Opto Eletrônica S.A., Saab said Jan. 23.
Saab increased its stake in Akaer from 15 percent to 25 percent.
Saab and Akaer have been partners since 2008 and Akaer was also contracted by Saab to develop parts of the fuselage of the Gripen NG fighter. That sub-contract occurred before Saab was down-selected for negotiations to re-equip the Brazilian Air Force, Saab said.
Saab first invested in Akaer in 2012 when it made a convertible load in shares, which was equivalent to a 15 percent share in Akaer. The recent 10 percent expansion is official and Saab said “Akaer remains independent, and controlled and managed by the Brazilian founder and management.” Saab has been part of Akaer’s Advisory Board since 2012.
With the investment by Saab, Akaer also acquired the E&D assets of Opto Eletrônica S.A, which is being renamed OPTO Space & Defense. Akaer intends to ensure the optronic technologies developed by OPTO in previous decades are kept under control of a Strategic Defence Company (EED) so they can be used in the national space and defense programs, Saab said.
Akaer pledged to ensure the continuity of the new space and defense capabilities by keeping on all of the employees of the Space and Defense division of OPTO Space & Defense and maintain its operations at the same location: São Carlos (SP), Brazil.
Saab said Akaer will also expand its access to international markets and develop dual application products to keep it financially sustainable and expand its technologies.
“The investment is a part of our growth and diversification strategy and is aligned with the national defense interests”, Cesar Augusto Andrade e Silva, founder and CEO of Akaer, said in a statement.
“I am very pleased with Akaer’s courage and vision, it was able to perceive the technology worth and capabilities developed by OPTO. Our team is motivated to start this new phase with Akaer and Saab,” Mario Stefani, partner and founder of Opto Eletrônica, added.
Commenting on the larger Saab-Akaer relationship, head of Saab’s aeronautics business area Ulf Nilsson said “the partnership brings mutual benefits and allows us to take another step in the technology transfer programme and in the development of the Brazilian defence industry. We have come to Brazil to stay and this also means to support our partners.”
Akaer has over 330 employees and was first established in 1992 in the aerospace engineering market. Opto Eletrônica was founded in 1985 and focuses on developing optronic products in the defense, aerospace, industrial, medical, and pharmaceutical sectors.