EADS' Cassidian to buy 75.1% stake in Carl Zeiss Optronics.
16 July 2012 - Cassidian, a security solutions and systems unit of European aerospace and defence group EADS NV (EPA:EAD), said it had agreed to buy 75.1% of Carl Zeiss Optronics GmbH from German Carl Zeiss AG.
Under the agreement, the parties will jointly manage the optronics and optics activities of Carl Zeiss Optronics, with Carl Zeiss keeping the remaining 24.9%. The deal is pending anti-trust authorisations and includes a site and job security guarantee until 2015. The target will join Cassidian's Sensors and Electronic Warfare business line.
Cassidiana[euro](tm)s chief executive Dr Stefan Zoller said that the transaction boosts the companya[euro](tm)s sensors capabilities and that it will allow it to established a a[euro]oesensor housea[euro] providing complete sensor services. Through the deal, Carl Zeiss Optronics will be able to utilise the buyera[euro](tm)s sales channels, offices and subsidiaries, as well as its business development expertise.
Carl Zeiss Optronics, with a headcount of 780 employees, develops and makes optronic, optic and precision-engineered products for military and civil applications at its German plants in Oberkochen and Wetzlar, as well as in Irene, South Africa. The companya[euro](tm)s 2011 revenues stood at about EUR160m (USD195.3m).
Cassidian noted that the agreement was inked by its German Legal entity EADS Deutschland GmbH, without disclosing the value of the deal.Country: GermanySector: Aerospace/Defence, ElectronicsTarget: Carl Zeiss Optronics GmbHBuyer: EADS NV, CassidianVendor: Carl Zeiss AGType: Corporate acquisitionStatus: Agreed
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|Publication:||M & A Navigator|
|Date:||Jul 16, 2012|
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