Saab divest its shares in C3 Technologies
Defence and security company Saab AB has agreed to divest its shares, corresponding to 57.8 per cent on a fully diluted base, in the 3D mapping company C3 Technologies AB (C3). The consideration amounts to approximately MSEK 1,009.
C3 is a spin-off from Saab and delivers 3D data to consumer markets based on the Saab 3D mapping technology.
The cash consideration for the divestment amounts to approximately MSEK 1,009 and the transaction will generate a capital gain of approximately MSEK 906. It will have a positive impact on earnings per share fully diluted of approximately SEK 8.1 in 2011.
C3 was founded by Saab Venture in 2008. Saab Venture’s purpose is to initially run companies with new products for new applications. This, for example, includes technologies that emanates from defence technologies for applications outside Saab’s core areas. Since 2001, Saab has spun off 15 companies,
Going forward Saab will continue to serve the defence, governmental and professional geographic information (GIS) market with Rapid 3D Mapping applications through R3DM, a business development project within the business area Dynamics.
The transaction is expected to close in the third quarter of 2011, subject to customary closing conditions.
Saab serves the global market with world-leading products, services and solutions ranging from military defence to civil security. Saab has operations and employees on all continents and constantly develops, adapts and improves new technology to meet customers’ changing needs.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.