• LUMIBIRD COMPLETES THE ACQUISITION OF SAAB GROUP’S DEFENSE LASER RANGEFINDER BUSINESS

    Source: Nasdaq GlobeNewswire / 31 May 2022 10:45:00   America/Chicago

    Lannion, May 31, 2022 – 5:45pm

    LUMIBIRD COMPLETES THE ACQUISITION OF SAAB GROUP’S
    DEFENSE LASER RANGEFINDER BUSINESS

    LUMIBIRD, the European leader for laser technologies, has completed on May 31 with the Swedish company Saab the acquisition of its defense laser rangefinder business. This acquisition will contribute to consolidating the Lumibird Group’s position on the European defense market.

    Lumibird today completes the acquisition of Saab’s defense laser rangefinder business, after the satisfaction of all conditions precedent, in particular the obtention of the required regulatory approvals. The new subsidiary, named Lumibird Photonics Sweden, is based in Göteborg (Sweden) and represented over € 10 m of revenues in 2021.

    Through this acquisition, Lumibird offers its European Defense sector clients a wider selection of lasers and rangefinders, from short to long range, with increased market coverage. This acquisition 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 15 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.

    Next date:

    first-half 2022 revenues on July 25, 2022 (after close of trading)

    LUMIBIRD is one of the world's leading specialists in lasers. With 50 years of experience and a mastering of solid state laser, laser diodes and fiber laser technologies, the Group designs, manufactures and markets high performance lasers for scientific (laboratories and universities), industrial (manufacturing, defense, Lidar sensors) and medical (ophthalmology, ultrasound diagnostic) markets.

    Born from the combination of Keopsys Group with Quantel in October 2017, LUMIBIRD has more than 940 employees and over €162 million of consolidated revenues in 2021 and is present in Europe, America and Asia.

    LUMIBIRD shares are listed on the Euronext Paris B Compartment. FR0000038242 – LBIRD    www.lumibird.com

    Attachment


Share on,