Safran Enters into Exclusive Discussions to Acquire Orolia, a World Leader in Resilient Positioning, Navigation and Timing
ROCHESTER, N.Y., Dec. 6, 2021 /PRNewswire/ -- Safran recently announced that it has entered into exclusive discussions to acquire Orolia from Eurazeo. Orolia is one of the world leaders in Resilient Positioning, Navigation and Timing (PNT) solutions that improve the reliability, performance and safety of critical civilian, military and space operations, including in harsh or altered Global Navigation Satellite System (GNSS) environments.
Orolia has a broad portfolio of technologies across the Resilient PNT value-chain with full system capabilities and is a provider of PNT equipment, simulation and test solutions. Orolia is also providing emergency locator beacons for commercial aviation and military applications.
The acquisition represents a unique opportunity for Safran and Orolia to extend their Resilient PNT solutions globally. With this addition, Safran will be able to build a world-leading position in all aspects of PNT, inertial navigation, time and GNSS receivers and simulators, covering aerospace, governmental and high integrity applications.
"I am delighted by this announcement," said Olivier Andriès, Safran Chief Executive Officer. "The acquisition of Orolia will strongly complement our navigation product line and expand its international footprint. Combining Safran and Orolia's capabilities will create a world leader in Resilient Positioning, Navigation and timing systems for all applications. This is fully in line with the strategy outlined at our recent Capital Markets Day to strengthen our position in key technologies for our sovereignty activities."
Safran intends to accelerate the development of Orolia under the leadership of its current CEO, Jean-Yves Courtois, and in full collaboration with its teams. The mutual customer base will benefit from the leveraging of respective strengths and route-to-market capabilities.
"The combination of Orolia and Safran will create a PNT world leader with capabilities that will be unsurpassed in depth and breadth," said Jean-Yves Courtois, Orolia Chief Executive Officer. "Our perfect complementarity in terms of technology expertise, market presence and geographic footprint will allow us to push further Resilient PNT to the next level and to offer our government, aerospace and commercial customers the most advanced solutions they need for their critical operations. Orolia will contribute especially through its world-leading positions in timing, GNSS simulation and emergency location technologies, and through its strong presence in the US market. We are looking forward to working with our new Safran colleagues to advance our common vision."
Orolia is expected to generate revenues of more than EUR 100 million in 2021 and has approximately 435 employees with facilities in France, United States, Switzerland, Spain and Canada.
The terms of the deal were not disclosed. The transaction is subject to the usual regulatory approvals. Orolia will be consolidated within Safran's Equipment & Defense division upon closing, expected around mid-2022.
About Orolia
Celebrating its 15th anniversary, Orolia is the world leader in Resilient Positioning, Navigation and Timing (R-PNT) solutions that improve the reliability, performance and safety of critical, remote or high-risk operations, even in GPS denied environments. Orolia provides virtually fail-safe GPS/GNSS and PNT solutions for military and commercial applications worldwide. www.orolia.com
About Safran
Safran is an international high-technology group, operating in the aviation (propulsion, equipment and interiors), defense and space markets. Its core purpose is to contribute to a safer, more sustainable world, where air transport is more environmentally friendly, comfortable and accessible. Safran has a global presence, with 76,000 employees and sales of 16.5 billion euros in 2020, and holds, alone or in partnership, world or regional leadership positions in its core markets. Safran undertakes research and development programs to maintain the environmental priorities of its R&T and Innovation roadmap.
Safran is listed on the Euronext Paris stock exchange and is part of the CAC 40 and Euro Stoxx 50 indices.
For more information : www.safran-group.com
Contacts:
Charles Jones, Orolia: [email protected] / T +1 585 450 2889
Catherine Malek, Safran : [email protected] / T +33 (0)1 40 60 80 28
Investor Relations
Cécilia Matissart: [email protected] / +33 1 40 60 82 46
Jean-Baptiste Minato : [email protected] / + 33 1 40 60 27 26
Aurélie Lefebvre: [email protected] / +33 1 40 60 82 19
Florent Defretin: [email protected] / + 33 1 40 60 27 30
SOURCE Orolia
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