US-based company Textron Inc. agrees to sell TRU Simulation Inc. and Training Inc. to CAE Inc. for an estimated 40 million dollars
Textron Sells TRU Simulation + Training to CAE for $40 Million
In a strategic move to bolster CAE's position in the simulation and training market, Textron Inc. has sold its subsidiary TRU Simulation + Training Inc. for $40 million USD on January 25, 2021.
TRU Simulation + Training, a key player in providing flight simulation and training devices and services, will now become a part of CAE Inc., a global leader in simulation and training solutions across civil aviation and defense sectors.
The sale includes Textron's manufacturing activities in Montreal, as well as certain non-U.S. businesses of Textron Inc. to CAE Inc. It also encompasses ETOPS entities in France and Malaysia, and a minority stake in a joint venture in Iceland.
Hoskin & Harcourt LLP, a renowned law firm specializing in corporate law, competition and foreign investment law, and tax, acted as legal advisors to Textron Inc. during the sale. The legal team from Hoskin & Harcourt LLP consisted of Niko Veilleux, Sophie Amyot, Jean-Philippe Bertrand, Jordana Corber-Tovel, Michelle Lally, Danielle Chu, Alain Fournier, and David Wilson.
It is important to note that the sale does not involve all of Textron's subsidiaries or its U.S. businesses.
CAE Inc., a high-tech company, specializes in digital immersion, and this acquisition is expected to lead to significant growth and innovation in the simulation and training industry.
With this deal, CAE aims to consolidate its leadership in providing comprehensive flight simulation training devices and services. The company expects to leverage TRU’s technology, customer base, and expertise to accelerate growth in the commercial, business, and helicopter aviation training sectors.
Future implications of the acquisition include market expansion, technological synergies, competitive advantage, and growth in defense and security. CAE’s enhanced product offerings are likely to attract more customers and contracts, potentially leading to innovation in training devices and methods, and strengthening CAE’s competitive positioning against other aerospace and simulation companies.
In summary, the sale of TRU Simulation + Training to CAE in 2021 was a strategic acquisition aimed at consolidating and enhancing CAE’s simulation and training capabilities, with expected future growth driven by expanded market reach, technology integration, and competitive strengthening in civil and defense aviation training markets.
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