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  • Friday, November 22, 2024

Safran Closes Orolia Acquisition in PNT Tech Market Push

Safran Group has completed its purchase of positioning, navigation and timing specialist Orolia from investment firm Eurazeo.

Orolia, which generates $101 million in estimated annual revenue and employs approximately 435 people, will operate under its new parent organization’s electronics and defense segment, Safran said Friday.

Eurazeo reported cash proceeds of $191 million from the sale.

France-based Safran first announced the deal in December 2021, saying the acquisition will position itself to offer a full portfolio of PNT, inertial and satellite navigation and time referencing products.

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