CAE signs agreement with Textron to buy TRU Canada for US$40 million

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MONTREAL — CAE Inc. has signed a deal with Textron to buy TRU Simulation + Training Canada Inc. for US$40 million.

The company says the acquisition of expands its installed base of commercial flight simulators and customers.

CAE says TRU Canada also brings with it a backlog of simulator orders, full-flight simulator assets and provides access to a number of airline customers.

The transaction is subject to regulatory approvals and other customary closing conditions.

Textron says the deal is expected to close during the fourth quarter of 2020 or early 2021.

The agreement follows an announcement earlier this month that CAE has signed a deal to buy Amsterdam-based Flight Simulation Company B.V. for C$108 million.

This report by The Canadian Press was first published Nov. 25, 2020.

Companies in this story: (TSX:CAE)

The Canadian Press