Lumibird completes takeover of Saab’s defense laser rangefinder business
Acquisition will contribute to consolidating the Lumibird group’s position on the European defense market
The transaction, which was signed in March 2021, was subject to a number of conditions, all of which have been fulfilled by the end of May. As part of the transaction, 27 Saab employees in Gothenburg are affected and transferred to the newly-established subsidiary Lumibird Photonics Sweden AB. The divested operations had revenues of around ten million euros in 2021.
“The divestment is yet another stage in the increased focus on our core business and we are convinced that the laser business makes a good strategic fit within the Lumibird group,” says Carl-Johan Bergholm, head of Saab’s surveillance business area.
Through this purchase, Lumibird offers its European defense sector clients a wider selection of lasers and rangefinders, from short to long range, with increased market coverage. This move also opens up immediate access for all the products to a broader panel of European clients.
The acquisition of this business, which Lumibird has known as a key component supplier for Saab for over fifteen years, represents a first step towards a consolidation of the European defense lasers and rangefinders market, and is fully aligned with the Lumibird group’s 2021 – 2023 strategic plan. (Sources: Saab / Lumibird)
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