Safran in Talks to Buy Preligens For EUR220 Million Including Debt
By Anthony O. Goriainoff
Safran said it was in discussions to buy aerospace and defense artificial-intelligence company Preligens for 220 million euros ($235.3 million) including debt.
The French aerospace-industry supplier said Monday that the potential acquisition was an opportunity to add state-of-the-art AI capabilities to its product offering. The transaction would also accelerate its digital transformation roadmap, and reinforce Preligens' development internationally, and in the U.S. market in particular, it said.
The company said that closure--which is subject to regulatory approvals as well as consultation with Preligens' employee representatives--is expected to take place in the third quarter.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
June 24, 2024 03:12 ET (07:12 GMT)
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