Global aircraft equipment manufacturing company Safran is in exclusive negotiations over a possible acquisition of Orolia from investment group Eurazeo in a strategy to establish a global presence in the positioning, navigation and timing products market.
The companies are eyeing a mid-2022 completion date for the planned combination if regulatory bodies approve the transaction, according to a joint statement released Monday.
Orolia, which expects to generate more than $112 million in 2021 revenue, has approximately 435 personnel at the company’s facilities in the U.S., Canada, Switzerland and Spain.
The PNT technology vendor partnered with Safran in 2019 to jointly offer an alternative platform to global navigation satellite system-dependent military systems for land, sea, air and space missions.
