NEW YORK, March 9, 2016 /PRNewswire/
Cambridge Information Group (CIG) along with its partners Externalis S.A. and VSS announced the sale of Navtech, a global provider of flight operations solutions, to Airbus. The acquisition will enrich Airbus’ expansive product development program and enable greater growth for Navtech. The transaction marks a successful ten year investment for CIG and other Navtech shareholders.
With operations in Canada and the United Kingdom, Navtech serves more than 400 aircraft operators and aviation services customers worldwide. Its product suite includes electronic flight bag (EFB) solutions, aeronautical charts, navigation data solutions, flight planning, aircraft performance, crew planning, and performance based navigation solutions and services.
“Navtech is a uniquely innovative company with remarkable products created by remarkable people,” said Andrew Snyder, Chairman of Navtech and CEO of CIG. “We are very proud of the investments we made in Navtech over the past ten years to build the business for long-term success.”
Alain Mallart, Chairman of Externalis S.A., a shareholder of Navtech, added “Over the years, Navtech has established a strong position in the aeronautical marketplace. Joining Airbus will facilitate its further growth while enhancing Airbus services.”
“VSS was pleased to help Navtech refinance the business in 2013, expand its subscription-based electronic product offering, and complete the acquisition of DWI,” said David Bainbridge, Partner, VSS Structured Capital Fund. “Airbus is the right acquirer at the right time for this growth-oriented business.”
Evercore acted as financial advisor to Cambridge Information Group.
Externalis (now EnerFinance) is a Belgian holding company, part of Energipole Group (www.energipole-group.com) owned by Alain Mallart. Energipole Group is engaged in real estate, environmental activities such as renewable energies and waste management, industrial ventures such as specialized steels and mining, and venture capital undertakings. The company’s website is www.energipole-group.com
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