Saab to acquire Sensis Corporation

Defence and security company Saab AB announced a definitive agreement to acquire the U.S. company Sensis Corporation (Sensis), a leading provider of air traffic management (ATM) solutions and surveillance technologies, for approximately $155 million (about MSEK 1,008). In addition, the parties have agreed on a potential earn out payment of maximum $40 million (about MSEK 260) by 2014. The acquisition advances Saab’s strategy to increase its North American presence.  It also strengthens the product portfolio within radar, sensors, ATM, and defence systems development. Sensis is a leading provider of air traffic management (ATM) solutions and surveillance technologies serving the global civil aviation and defence industries. Sensis will continue operations in the U.S. as a subsidiary within the Saab Group.