CAE Inc (CAE, CAE.TO) Wednesday announced that it has completed the acquisition of Oxford Aviation Academy, an industry-leading provider of aviation training and crew sourcing services, for a total consideration of C$134 million.
The company stated that the acquisition strengthens its leadership and global reach in civil aviation training by increasing its training centre footprint and growing its Ab-Initio flight training network.
The company further added that the acquisition will be accretive to the earnings from fiscal year 2014.
Marc Parent, President and CEO of the company stated : ""We are very excited about this acquisition as it enables us to offer our customers more locations and additional training capacity as well as a new service for pilot and maintenance crew sourcing. We have greatly enhanced CAE's industry-leading position with the addition of two of the industry's strongest brands in Ab-Initio aviation training and crew sourcing: Oxford Aviation Academy and Parc Aviation,"
For comments and feedback: editorial@rttnews.com