Lumibird (Lannion, France) has signed an agreement with the Saab Group (Stockholm, Sweden) in which Lumibird plans to acquire Saab’s defense laser rangefinder business (based in Gothenburg, Sweden), representing over $12 million (€10 million) of revenues based on the year ended December 31, 2020.
If the acquisition moves forward, Lumibird will be able to offer its European Defense sector clients a wider selection of lasers and rangefinders, from short- to long-range, with increased market coverage. This acquisition will also open up immediate access for all the products to a broader panel of European clients.
The acquisition of this business, which Lumibird has known as a key component supplier for Saab for over 15 years, represents a first step towards a consolidation of the European defense lasers and rangefinders market, and is fully aligned with the Lumibird Group’s 2021-2023 strategic plan.
This acquisition is subject to various conditions precedent, in particular the obtention of the required approvals from the regulatory authorities. The transaction is expected to be finalized for the first half of 2022.
LFW Staff
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