Saab to Divest Laser Rangefinder Business
Saab AB and Lumibird SA have today completed a transaction whereby Lumibird, through a newly established Swedish subsidiary based in Gothenburg, is acquiring Saab’s laser rangefinder business.
The transaction, which was signed in March 2021, was subject to a number of conditions, all of which now have been fulfilled. As part of the transaction, 27 Saab employees in Gothenburg will be affected and join the newly established subsidiary Lumibird Photonics Sweden AB. The divested operations had revenues of around EUR 10 million in 2021.
“The divestment is yet another stage in the increased focus on our core business and we are convinced that the laser business makes a good strategic fit within the Lumibird Group”, says Carl-Johan Bergholm, head of Saab’s business area Surveillance.
Saab is a leading defence and security company with an enduring mission, to help nations keep their people and society safe. Empowered by its 18,000 talented people, Saab constantly pushes the boundaries of technology to create a safer, more sustainable and more equitable world. Saab designs, manufactures and maintains advanced systems in aeronautics, weapons, command and control, sensors and underwater systems. Saab is headquartered in Sweden. It has major operations all over the world and is part of the domestic defence capability of several nations.