Yahoo Finance Lumibird: Agreement Signed to Acquire the Saab Group’s Defense Laser Rangefinder Business
Lannion, March 3, 2021 – 7:30am
AGREEMENT SIGNED TO ACQUIRE THE SAAB GROUP’S DEFENSE LASER RANGEFINDER BUSINESS
LUMIBIRD, the European leader for laser technologies, has signed an agreement with the Swedish company Saab to acquire its defense laser rangefinder business. This acquisition will contribute to consolidating the Lumibird Group’s position on the European defense market.
Lumibird is announcing today that it has signed an agreement with Saab with a view to acquiring its defense laser rangefinder business, based in Gothenburg (Sweden), represents over €10m of revenues based on the year ended December 31, 2020.
If this acquisition goes ahead, 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.
Next date:
2020 full-year earnings on March 16, 2021 (after close of trading)
LUMIBIRD is one of the world's leading specialists in lasers. With 50 years of experience and a mastering of solid state laser, laser diodes and fiber laser technologies, the Group designs, manufactures and markets high performance lasers for scientific (laboratories and universities), industrial (manufacturing, defense, Lidar sensors) and medical (ophthalmology) markets.
Born from the combination of Keopsys Group with Quantel in October 2017, LUMIBIRD has more than 800 employees and over €126 million of consolidated revenues in 2020 and is present in Europe, America and Asia.
LUMIBIRD shares are listed on the Euronext Paris B Compartment. FR0000038242 – LBIRD www.lumibird.com
Contacts
LUMIBIRD | LUMIBIRD | Calyptus |
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