Sensors specialist acquired

Saab is to acquire radar and sensor specialist Ericsson Microwave Systems (EMW) for SKr3.8 billion ($522 million). As part of the deal, which is expected to be completed in September and remains subject to European regulatory approval, Saab wil also take over the 40% stake Ericsson holds in Saab Ericsson Space.

Saab president and chief executive, Åke Svensson, says the acquisition will give Saab opportunities to further develop the Gripen radar system, which EMW currently supplies, and could lead to new business in areas such as airborne surveillance.

EMW will be known as Saab Microwave Systems and will become part of the Swedish company’s systems and products business unit.

Source: Flight International