Northrop Grumman to Acquire Navia Aviation AS of Norway
LOS ANGELES---Northrop Grumman Corporation announced today it has signed a definitive agreement to acquire Navia Aviation AS, an operating unit of Navia ASA in Norway, for $35 million (US) in cash. The transaction is subject to normal governmental reviews and is expected to close by year-end.
Navia Aviation, based in Oslo, is a leading supplier of instrument landing systems, digital voice switching systems and air traffic control systems for commercial aviation worldwide. It had revenues of approximately $35 million (US) in 1998 and has more than 200 employees at sites in Oslo, Horten and Remskog.
"The global marketplace for systems that ensure safe and reliable air travel is as robust as it is competitive. With airspace management systems in more than 20 countries, Northrop Grumman is an established world leader in the industry, and Navia brings a solid base of business and air traffic control technologies to our team," said Robert Iorizzo, vice president and general manager-C3I and Naval Systems at Northrop Grumman's Electronic Sensors and Systems Sector (ES3). "As we pursue the many business opportunities around the world that correspond to our core competencies, Navia's complementary strengths will enhance our overall competitiveness and growth objectives."
Upon completion of the acquisition, Navia Aviation will become a wholly owned subsidiary of Northrop Grumman Corporation, reporting to Park Air Electronics Ltd., Peterborough, UK, a unit of ES3, headquartered in Baltimore.
Northrop Grumman's Electronic Sensors and Systems Sector is a world leader in the design, development and manufacture of defense electronics and systems, precision weapons, airspace management systems, space systems, marine systems, and automation and information systems. Northrop Grumman Corporation, headquartered in Los Angeles, is a leading designer, systems integrator and manufacturer of military surveillance and combat aircraft, defense electronics and systems, airspace management systems, information systems, marine systems, precision weapons, space systems, and commercial and military aerostructures.
-ends-
Northrop Grumman to Acquire Navia Aviation AS of Norway
