Deal worth 220 mln eur (Il Sole 24 Ore Radiocor) - Paris, 24 Jun - The French defence and aerospace group Safran said that it has entered into exclusive discussions to acquire 100% of Preligens, a specialist in artificial intelligence for aerospace and defense, for an enterprise value of 220 million euros.

Founded in 2016, Preligens provides field-proven AI analytics solutions for high-end imagery, full motion video and acoustic signals. The company develops complex algorithms and software to analyze and automatically detect and identify objects of military interest notably using commercial and government satellite images.

Based in France, Preligens had sales of 28 million euros in 2023. The company employs approximately 220 employees, including 140 engineers in research and development.

"This potential acquisition represents a unique opportunity for Safran to add state-of-the-art AI capabilities to its product offering and to accelerate its digital transformation roadmap in particular for Manufacturing 4.0. Through its global presence, Safran will also be able to reinforce the development of Preligens internationally, in particular in the US market," Safran said.

The closing is expected in the third quarter of 2024, it added.

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(RADIOCOR) 24-06-24 17:19:12 (0485) 5 NNNN