Sensis Corp., of Syracuse, N.Y., a provider of air traffic management (ATM) systems and surveillance technologies, announced that a definitive agreement has been reached with Saab to be purchased for $155 million.
According to a Sensis spokesperson, the coupling of Sensis’ and Saab’s advanced Air Traffic Management and civil security portfolios – including radar and sensors, airport and airline automation, remote ATC towers, airport security and more – will provide a new level of ATM solutions to the global market. This coupling builds on the companies’ multi-year defense industry history of successful collaboration on the U.S. Navy’s Littoral Combat Ship program.
The acquisition advances Saab’s strategy to increase its North American presence. It also strengthens the product portfolio within radar, sensors, ATM, and defense systems development.
Hakan Buskhe, President and CEO for Saab AB, said the acquisition is in line with the company’s ambition to focus on selected markets and grow their core business. Sensis has complementing product lines and is well-positioned on several key markets. Buskhe said by combining their product portfolios, they gain a stronger position and broaden their market offering.
Sensis will continue to operate as a wholly owned subsidiary of Saab Group. The transaction is pending approval from, among others, competition authorities in the U.S. and is expected to be concluded in the third quarter of 2011.
Sensis customers and partners will benefit from Saab’s product portfolio and global support operations.