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12:11 PM, October 2, 2015

CAE has closed the acquisition of Bombardier's Military Aviation Training business for Canadian $19.8 million.

All the required conditions and regulatory approvals have been obtained and the transaction has been concluded, CAE said in a statement Thursday.

This acquisition significantly strengthens CAE's core capabilities as a training systems integrator (TSI) globally, and further expands its offering into support for live flying training of future military pilots, including next-generation fighter pilots, for the Royal Canadian Air Force and its allies. CAE becomes the prime contractor responsible for the NATO Flying Training in Canada (NFTC) program that produces qualified military pilots for defence customers.

"The closure of this NFTC program acquisition follows the recent competitive win in the USA to deliver the Army Fixed Wing pilot training program, another full training system including live aircraft. Together, these programs are accelerating the advancement of CAE's training systems integration capability and overall strategy," said Gene Colabatistto, CAE's Group President, Defence & Security.

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