German company Hensoldt has agreed to acquire the major part of the activities of France-based Nexeya, which provides services for defence and commercial customers.
Under the agreement, Hensoldt will purchase the test, integration and services business of Nexeya, in addition to a majority of its mission management and power conversion businesses.
Representing a turnover of around €95m, the acquired activities of Nexeya represent a workforce of about 620 employees.
Hensoldt CEO Thomas Müller said: “Nexeya strengthens our industrial base particularly in France, improving customer access and enhancing our product portfolio.
“Furthermore, the acquisition boosts our strategy of developing commercial markets, creating new opportunities in the area of services. Thus, the move is in line with the acquisitions made in the last two years in the areas of avionics, security and industrial engineering.”
Nexeya’s space activities and certain defence activities that are excluded from the transaction will be retained by the existing shareholder.
The closing of the deal is subject to necessary approvals and is expected in the third quarter of this year.
Müller further added: “Hensoldt has been present in France since 2018 with its subsidiary Hensoldt France SAS, with product lines in the field of communication and IFF. This is an exciting new chapter for our growth story in the important French market.”
Following the acquisition, Nexeya will use Hensoldt’s sales and marketing network to benefit from increased global and segmental market access and investment capacities.
The companies have not disclosed the value of the transaction.
Separately, Hensoldt France secured a contract to deliver its IFF interrogator for very short range and short-range air defence applications to the French Ministry for the Armed Forces.
As part of the contract, Hensoldt will deliver 134 MSR1000I to be integrated on the French Army’s Mistral missile launchers and Martha air defence command and control stations.