Saab acquires Medav
Defence and security company Saab AB (publ) has signed an agreement regarding the acquisition of all shares in the German company Medav GmbH, specialised in the application of signal processing, pattern recognition and information technology. Completion of the transaction is subject to, among others, approval by the competition authorities in Germany and is expected to occur in the fourth quarter of 2012.
Medav is a leading provider of equipment for signal, electronic and communication intelligence. With a workforce of approximately 75 employees, it serves a global base of more than 50 customers located in more than 15 countries in Asia, the Middle East, Europe and South America. The company’s estimated revenue for business year 2012 is about EUR 21.9 million.
Saab serves the global market with world-leading products, services and solutions ranging from military defence to civil security. The acquisition was pursued through its business area Electronic Defence Systems, which focuses on solutions for surveillance and for threat detection, location and protection. Saab has around 13,000 employees and annual sales amount to around SEK 24 billion. Saab AB’s Series B share has been listed on the NASDAQ OMX Nordic Exchange since 1998.
Saab was advised by Mannheimer Swartling. The firm’s team was led by Oliver Cleblad, primarily assisted by Morten Simm (M&A, Bank & Finance) and Ulf Lohrum (Employment). Nils Gruske, Andreas Karl and Philipp Schön were involved in the due diligence work. Meike Johnsen was in charge of the merger filing, assisted by Helena Ramadori.