Indra has bought 100% of the shares in the air traffic management systems company Park Air Systems Norway, from its owner Northrop Grumman Denmark. The transaction values Park Air Systems’ Norway business at an enterprise value of €42m. Park Air Systems Norway’s global consolidation into Indra, expected by May, increases Indra’s 2012 revenues growth target from 6.5%-7.5% up to 8%-9%, with all other targets remaining unchanged.
This deal enlarges Indra’s portfolio of Air Traffic Management systems (ATM), complements the range of solutions being offered by Park Air Systems Norway, and creates opportunities for both companies to realise significant synergies. Indra is one of the leading players in the global market for air traffic management systems, with more than 1,200 facilities in 95 countries and more than 30 years of experience.
The Norwegian company is well-recognised in the air traffic management business. It is a global leader in the landing systems market with its NORMARC brand and is well positioned in voice communication control systems and in systems for the surveillance and guidance of aircraft at airports, under the GAREX and NOVA brands respectively. Park Air Systems Norway has more than 1,000 contracts in 111 countries. Its customers include the world’s leading air traffic management agencies and airport managers.
