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The purchase price paid on closing will be C$15.1 million with an additional C$11.0 million to be paid contingent upon the occurrence of certain events for a potential total purchase price of $26.1 million, according to the company.
xwave's DSA team supplies real-time software and systems for simulation, training, defense, and integrated lifecycle information management for the aerospace and defense industries. The division employs approximately 200 people in Ottawa, Ontario; Halifax, Nova Scotia; and Esquimalt, British Columbia.
"We are happy to expand CAE's defense capabilities and footprint across Canada, particularly in Ottawa, Atlantic Canada and British Columbia," said Marc Parent, CAE's Group President, Simulation Products and Military Training & Services. "xwave DSA is already a valued partner of CAE on several programs. By joining CAE and our CAE Professional Services team, xwave's DSA professionals will provide us with a portfolio of complementary capabilities, including systems integration that will enhance CAE's ability to serve Canada as well as the global defense and homeland security markets."
Over the past year, according to the company, Bell Aliant conducted a strategic review of its DSA business and concluded that to further grow the business, it should be operated by an organization that supports large scale, multi-year and international projects in this sector.
"I am pleased that CAE, a Canadian-based company and world leader in the defense and civil aviation industries, will be leading our DSA business through the next phase of its growth," said Stephen Wetmore, President and CEO of Bell Aliant. "We look forward to working with CAE, our employees and clients through this transition." The acquisition, according to the company, is an important step in CAE's strategy to expand the use of modeling and simulation throughout the defense systems lifecycle. xwave's DSA unit offers a suite of training products focused on rear crew trainers and mission rehearsal systems that will further enhance CAE's military training and services offerings. The acquisition will also allow CAE to add new customers and capabilities in the electronic warfare market, the land command and control market, and significantly enhance its presence in the C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) domain.
The transaction is subject to customary closing conditions and is expected to close by the end of the calendar year.
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