Barco announces divestment of Barco Orthogon business to Exelis
Kortrijk, Belgium, 1 August 2014 – Today, visualization specialist Barco and Exelis (NYSE:XLS) have reached an agreement regarding the sale of Barco Orthogon (Orthogon), a wholly-owned subsidiary of Barco NV, based in Bremen, Germany for an enterprise value of approximately EUR 13 million. Orthogon provides applications for air traffic flow management and decision making to airport operators and air navigation service providers (ANSPs) globally. Final closing of the transaction is subject to customary closing conditions and regulatory approvals and is expected to happen soon.
Orthogon designs, develops and deploys widely-used queue management and traffic optimization applications that allow airport operators, ANSPs and airlines to collaboratively manage capacity constraints on the airport surface and in the air. In addition to optimizing aircraft flows into and out of airports, Orthogon’s applications predict traffic demand on runways based on key performance indicators, thus allowing airport operators and airspace users to better optimize their resources.
The acquisition will augment Exelis offerings in its strategic growth area of critical networks. Upon completion of the transaction, Orthogon will become part of the Information Systems division within Exelis.
“The addition of Orthogon will expand our aviation solutions portfolio and international market position,” said Pam Drew, Exelis president of the Exelis Information Systems division. “With our global airport presence and Orthogon’s queue management applications we see opportunities to deliver solutions to our customers that will lower costs and increase capacity and efficiency of their operations.”
“As demand for air travel increases over the coming decades Orthogon’s focus is to deliver total airport optimization solutions,” said Frank Köhne, chief executive officer and managing director of Orthogon. “Our success and long term customer relationships can be attributed to our talented and dedicated employees. We look forward to joining the Exelis team as this combination will significantly expand our scale to deliver solutions to customers globally.”
Eric Van Zele, president and chief executive officer of Barco NV further commented: “I would like to express my appreciation for the many contributions of the Orthogon team over the past 12 years. This transaction must be seen in the context of Barco’s increased focus on its core activities.”
Orthogon’s products and solutions are used by customers to manage operations at some of the world’s busiest airports including those in Doha, Qatar; Gatwick, UK; Hong Kong; Istanbul; London; and Singapore.
Exelis is a diversified, top-tier global aerospace, defense, information and services company that leverages a 50-year legacy of deep customer knowledge and technical expertise to deliver affordable, mission-critical solutions for global customers. We are a leader in positioning and navigation, sensors, air traffic management solutions, image processing and distribution, communications and information systems; and focused on strategic growth in the areas of critical networks, ISR and analytics, electronic warfare and composite aero structures. Headquartered in McLean, Va., Exelis employs about 17,000 people and generated 2013 sales of $4.8 billion. For more information, visit our website at www.exelisinc.com or connect with us on Facebook, Twitter and YouTube.
Barco, a global technology company, designs and develops visualization products for a variety of selected professional markets. Barco has its own facilities for Sales & Marketing, Customer Support, R&D and Manufacturing in Europe, North America and Asia Pacific. Barco (NYSE Euronext Brussels: BAR) is active in more than 90 countries with 4,000 employees worldwide. Barco posted sales of 1.158 billion euro in 2013.
For more information, visit our website at www.barco.com
© Copyright 2014 by Barco
For more information, please contact
Director Investor Relations
+32 56 26 23 22