The acquisition of TRU Canada expands CAE's global installed base of commercial flight simulators and customers, and the addressable market for simulator lifecycle support services. TRU Canada also brings with it a backlog of simulator orders, full-flight simulator assets and provides access to a number of airline customers globally.

"We look forward to integrating the TRU Canada business within CAE. This acquisition demonstrates our ability to bolster our position and expand our addressable market and our global customer base during this unprecedented period of disruption. Along with the recently announced FSC acquisition, we have been able to make investments that are expected to better enable CAE to meet the global demands of our customers in support of their training and simulation needs," said Marc Parent, CAE's President and Chief Executive Officer.

TRU Canada is CAE's second announced acquisition in the last two weeks and demonstrates the company's commitment to deploying the capital it is raising to strengthen the company's position across its markets. The acquisition is aligned with CAE's strategic priorities and meets the strict financial parameters it has in place. It is expected to be accretive to earnings in its first full year.

Source:  www.cae.com

The Tech Demo is the second phase of the Mi2 Challenge intended to accelerate the identification and evaluation of next-generation Unmanned Aircraft Systems (UAS) capable of operating in austere deployed environments without ancillary support systems.

Of 13 submissions sent, only two were selected to move forward to the technology demonstration phase. During the live event, Martin UAV will have an opportunity to showcase the V-BAT, a state-of-the-art Vertical Takeoff and Landing (VTOL) UAS.

"Martin UAV's opportunity to participate in the Challenge and demonstrate the technologically advanced V-BAT is a direct reflection of our vision to change mission requirements and capability offerings as the Navy currently knows them," says Heath Niemi, Vice President of Global Sales and a retired U.S. Army colonel. "If successful, the V-BAT will be the first tail-sitting, fixed-wing UAS ever deployed by the U.S. Navy that supports vertical takeoff with a single-engine ducted fan, which transitions to straight and level flight, hovers and stares, contains interchangeable payloads, and has an open architecture. It would not just be a new aircraft for the Navy - it would be an entirely new way of operating."

Martin UAV owner and Chief Executive Ruben Martin commented, "With an extensive military background, the Martin UAV team reacts instantly to the warfighter in order to get them the best VTOL UAS, the V-BAT, to better accomplish their mission."

The V-BAT is currently deployed in various areas of operation around the world in support of the U.S. Department of Defense, such as the U.S. Army's Future Tactical UAS program, SOUTHCOM/JIATF-S, the U.S. Marine Corps with an expeditionary unit, and the U.S. Coast Guard.

Source:  Martin UAV LLC
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Upon closing of the transaction, the stockholders in Loral, together with PSP Investments and certain current and former management shareholders of Telesat, will beneficially own all of the equity in New Telesat in approximately the same proportion as their current, indirect ownership in Telesat. Loral stockholders not affiliated with the funds managed by MHR Fund Management LLC (MHR Funds) will beneficially own 26.1% of the economic interests in New Telesat, with the MHR Funds, PSP Investments and management shareholders of Telesat beneficially owning the remaining 36.6%, 36.7% and 0.7%, respectively, of the economic interests in New Telesat (such percentages have been subjected to rounding adjustments).

New Telesat shares will initially be listed on the Nasdaq Global Select Market, and New Telesat is also considering a listing for its shares on a Canadian stock exchange. New Telesat's governance provisions will contain special features designed to maintain majority Canadian board and voting control. Loral and Telesat will also make certain cash payments to PSP Investments in connection with the transaction, including a payment of $7 million and a payment to adjust for the value of Loral's non-Telesat assets and liabilities at the time of the closing of the transaction.

The transaction, which is subject to customary closing conditions, including approval by Loral stockholders (as further described below) and certain regulatory approvals, is expected to close in the second or third quarter of 2021.

Source:  www.loral.com
Associated URL: www.telesat.com