L3Harris sells military training business to CAE for $ 1.05 billion

L3Harris sells military training business to CAE for $ 1.05 billion

CAE Inc. CAE, -1.85% CAE, -0.94% on Monday announced an agreement to acquire the military training business LHX, -2.72% of L3Harris Technologies Inc. for 1.05 billion euros dollars. CAE expects the operation to increase profits in the first full year following the close, which is expected to take place in the second half of 2120. L3Harris’ military training activity generated a turnover of business of approximately $ 500 million in 2020. “This proposed transaction will provide greater balance for CAE across all businesses and geographies, and similar to our recent acquisitions in the civil aviation market, this demonstrates our desire to strengthen and expand our position in the markets we serve, ”said CAE CEO Marc Parent. The CAE and L3Harris shares were both inactive in…

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