DeWITT — Saab AB, the parent company of Saab Sensis Corp., plans to add to its capabilities in air traffic management with another acquisition.
Saab bought DeWitt–based Sensis last year for $150 million. The firm, a defense and security based in Sweden, announced plans Thursday to acquire HITT N.V. of the Netherlands.
In addition to air traffic management, HITT’s main businesses are in vessel traffic and port management and hydrographic software systems, according to an email from Saab Sensis President and CEO Marc Viggiano.
(Sponsored)
Unique Ways to Save Money As You Upgrade Your Business Technology
It’s no secret that innovating is the key to business growth and prosperity. To stay competitive, businesses must continually seek new technologies to enhance productivity. However, the issue of cost
When Can an Employer Request an Applicant’s or Employee’s Salary History?
In a tight labor market, many employers struggle to provide the most competitive employment offers, including competitive salaries and wages. Are employers permitted to request an applicant’s current salary in
HITT’s customers include ports and maritime administrations in Europe, North America, Asia and Australia and airports and air navigation service providers in Europe and Asia, the email said. The company develops technology to improve safety and security at airports and in maritime environments.
Saab plans to make an all-cash public offer for HITT of 6.60 euros per share. The deal values HITT at 29.7 million euros, according to Saab.
HITT employs 188 people. Along with some other conditions, Saab’s offer for HITT must be accepted by at least 75 percent of shareholders, according to Viggiano’s email.
If they offer is successful, the acquisition will close in October.
“Saab Sensis looks forward to continuing to work with our business partners and customers with the stronger portfolio that this acquisition, should it be successful, will deliver to Saab,” Viggiano said in the email.
Sensis employs about 600 people at eight locations and serves more than 60 customers in 35 countries. It has about 500 employees in Central New York. The company provides sensor technologies, radar systems, modeling, and simulation for defense, civil aviation, airport, and airline customers.
Contact Tampone at ktampone@cnybj.com
