CAE to Acquire Engenuity

Canadian simulator company CAE will pay $19.6 million to acquire Engenuity Technologies, a move the company said will expand its military business. CAE, Montreal, said the transaction is expected to close in April. The two companies said they signed lockup agreements with shareholders for 13.3 million shares, or nearly 70 percent of Engenuity. CAE said the bid represents a 14 percent premium for the average price of Engenuity shares on the Toronto Stock Exchange for the last 20 trading days. Engenuity Technologies, based in Montreal, develops commercial-off-the-shelf
simulation and visualization software for the aerospace and defense markets. Its core products include VAPS, a software product used by aircraft and automobile designers to create models and simulations of cockpit displays and STAGE, a simulation toolkit used to create and interconnect simulation environments. “The acquisition of Engenuity Technologies is another step in our growth
strategy in our military business,” said Marc Parent, CAE’s president of simulation products and military training and service. “Engenuity will add new technologies, an established customer base and effective sales channels to accelerate our growth initiatives.” For related news