French technology company Thales is holding exclusive discussions for the acquisition of Cobham Aerospace Communications (AeroComms) in a deal valued at $1.1bn (€0.9bn).
Based in Paris, AeroComms is engaged in designing and producing cockpit communication systems such as antennas and transceivers.
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Through the acquisition of AeroComms, Thales, which operates in defence, aerospace and cybersecurity industries, hopes to bolster its avionics portfolio.
AeroComms, which employs nearly 690 people, operates in France, South Africa, USA / Canada and Denmark.
Thales executive vice-president of avionics Yannick Assouad said: “With the acquisition of Cobham Aerospace Communications and its highly skilled team of aerospace communications experts, and combined with our own critical avionics experts, Thales will establish a game changer in the very attractive and fast-growing communications and connectivity market to the benefit of a more sustainable aerospace future.
“By guaranteeing a cyber-secured, live connection between the cockpit and air traffic control, aircraft will be able to fly optimised trajectories in real-time, significantly reducing fuel consumption and, consequently, CO₂ emissions in the next two to three years.”
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By GlobalDataThales noted that AeroComms is expected to generate around $200m in revenues in 2023 and the acquisition will enhance Thales’ avionics sales growth.
By integrating AeroComms’ safety cockpit communication systems offering, Thales will be well-positioned to capitalise on the possibility of the trend towards connected cockpits, it added.
Cobham Aerospace Communications CEO Nicolas Bonleux said: “Our sizeable investment in R&D over the last years has further consolidated our position as a leading player in our markets, with a series of new contracts won already this year.
“Our combined offering with Thales Avionics will enable us to further accelerate our contribution to safer, greener, more comfortable and more efficient air travel.”
Subject to customary closing conditions, the acquisition is expected to close in the first half of 2024.
