FREQUENTIS acquires parts of the ATM product segment from L3Harris Technologies
Frequentis AG, a leading international supplier of communication and information solutions for safety-critical applications, has announced today that it had signed an agreement to acquire the ATM voice communications and arrival management product business from the US company L3Harris Technologies for a purchase price of USD 20.1 million (about EUR 16,58 million) subject to customary net debt and working capital based purchase price adjustments at Closing. The Adhoc PR can be downloaded here: Adhoc: FREQUENTIS acquires parts of the ATM product segment from L3Harris Technologies Inc (01:00 PM)
- The acquisition underpins Frequentis’ strong capabilities in voice communication solutions for civil and military Air Traffic Management (“ATM”)
- The transaction is expected to be completed in the second half of the year 2021 and is subject to competition clearance and regulatory approvals
- The transaction will complement Frequentis’ ATM product portfolio and is expected to contribute revenues of some EUR 30 million p.a. to Frequentis in the first full FY after closing
- Customers will benefit from an even broader ATM solution portfolio delivering greater capabilities and digitalisation
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