CAE’s Acquisition of L3Harris Military Training Business Set to Close Friday; Daniel Gelston, Marc Parent Quoted

CAE announced that it expects to close its $1.05 billion acquisition of the military training business of L3Harris Technologies (NYSE: LHX) on Friday, July 2, after securing all regulatory approvals needed to complete the transaction.

The deal was first announced in March and CAE said Monday L3Harris’ military training segment will enable it to broaden its presence as a platform-agnostic training and simulation company in the global defense and security market.

“This Acquisition will bring scale, experience and capabilities that support our strategy to align closely with the National Defense Strategy in the United States,” said Daniel Gelston, group president for defense and security at CAE. “As the United States and its allies train for a near-peer threat, we expect increasing demand for simulation-based training and the use of synthetic environments across all battlespace domains.”

Gelston added that the transaction will strengthen…

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