French aerospace company Safran has agreed to purchase positioning, navigation, and timing (PNT) product provider Orolia, saying the acquisition will complement its navigation portfolio and expand its international footprint.
“With this addition, Safran will be able to build a world-leading position in all aspects of PNT,” Safran said on 6 December.
Safran, which has more than 76,000 employees, said it intends to “accelerate the development” of Orolia, which employs approximately 435 people, has facilities in five countries, and expects to generate revenue of more than EUR100 million (USD112.9 million) in 2021. Orolia CEO and co-founder Jean-Yves Courtois will continue to lead his firm, which has headquarters in both France and the United States.
Safran expects to complete the transaction by mid-2022, after receiving regulatory approval. It will buy Orolia from French investment firm Eurazeo for an undisclosed sum, and will consolidate it within its Equipment & Defense division.
Orolia has conducted five acquisitions of its own since it became owned by Eurazeo in 2016. The most recent, of Spain-based timing provider Seven Solutions, was announced in late October 2021. The acquisitions, along with “targeted asset disposals”, have helped Orolia double its organic growth rate and profit margins, according to Eurazeo.
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