Airbus Strengthens its Services Business With the Acquisition of Navtech
- Acquisition affirms Airbus' strategy to further develop new services for aviation customers
- Navtech will connect into the Airbus network to boost its provision of end-to-end flight operations solutions
Airbus has entered into an agreement to acquire 100% of the shares of the Navtech group of companies, a leading global provider of flight operations solutions. Closing of the acquisition is subject to customary regulatory approvals for such type of transactions.
Navtech serves more than 400 aircraft operators and aviation services customers worldwide with a suite of flight ops products, including electronic flight bag (EFB) solutions, aeronautical charts, navigation data solutions, flight planning, aircraft performance, and crew planning solutions. Navtech generates annual revenues of around $42m and employs over 250 employees, mainly based in Waterloo, Canada, and in Hersham and Cardiff, Wales, UK.
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Fabrice Brégier, Airbus’ President and Chief Executive Officer said: “We are very pleased to welcome Navtech into our company, contributing its industry-leading portfolio of digital solutions and expert know-how.” He adds: “This acquisition is further affirmation of Airbus’ digitalization and services growth strategies, and is a significant milestone to serve our existing and future customers.”
Andrew Snyder, Chairman of Navtech and CEO of Navtech’s largest shareholder, Cambridge Information Group, said: “Navtech is a uniquely innovative company with remarkable products created by remarkable people.” He added: "With its commitment to moving the international aviation industry forward, Airbus provides an ideal environment for Navtech to grow exponentially. We’re excited for this new future that awaits Navtech as part of the Airbus family.”
Laurent Martinez, Airbus’ Senior Vice President of Services said: “Connecting Navtech’s experience with the ‘Services by Airbus’ network will enable us to be more innovative, diversifying our range of services and flight operations solutions, while providing our customers with greater flexibility.”
Mike Hulley, Chief Executive Officer of Navtech said: “The signing of this agreement with Airbus is excellent news for the Navtech teams, who are joining a group with international standing, providing them with access to new markets leveraging on complementary aviation expertise. Our customers will benefit from game-changing innovations and enhanced customer experience of our digital flight operations services.”
Source : Airbus, an EADS N.V. company (Paris: EAD.PA) - view original press release