Saab to divest laser business
The Swedish aerospace and defence company and French Lumibird SA have today completed a transaction whereby Lumibird is acquiring Saab’s laser rangefinder business.
The transaction, which was signed in back March 2021, was subject to a number of conditions, all of which now have been fulfilled. As part of the transaction, 27 Saab employees in Gothenburg will be affected and join Lumibird's newly established Swedish subsidiary, Lumibird Photonics Sweden AB.
The divested operations had revenues of around EUR 10 million in 2021.
“The divestment is yet another stage in the increased focus on our core business and we are convinced that the laser business makes a good strategic fit within the Lumibird Group,” says Carl-Johan Bergholm, head of Saab’s business area Surveillance, in a press release.