CAE Sells Flightscape to SITA for $500M
Canadian aviation firm CAE has agreed to sell its Flightscape software business to SITA for five hundred million dollars. The transaction will help CAE focus on its core civil and defense operations while lowering debt.
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CAE INC will sell its Flightscape airline operations software business to Canada aviation technology firm SITA for $500M, including debt. The divestment follows a strategic review launched five months ago as the company moves to streamline its operations. CEO Matthew Bromberg is steering proceeds toward core simulation and training units to strengthen cash flow.
