Park Air designs, engineers, and manufactures systems and provides customer training at its own facilities. It has over 120 employees and a strong partner and distribution network that enables it to supply systems to more than 100 countries.
Indra did not have its own radio systems, so this acquisition expands our portfolio. Park Air and Indra are jointly participating in the US Federal Aviation Administration's (FAA) NEXCOM Version 3 (V3) tender, a program to replace ground-to-air radios that are currently reaching the end of their service life.
"This acquisition provides us with engineering and production capabilities for complex electronic systems. These capabilities are highly synergistic with our current portfolio and can be used both to grow our business with existing customers and to develop new lines of business for the aerospace, defense, and mobility sectors," said Marc Murtra, Chairman of Indra.
"We are eager to capitalize on the growth opportunity this acquisition represents for our civil and military air traffic management business. We are ready to leverage the synergies between our air traffic operations centers in Spain, Norway, and the United States through an integrated view of the global market," said José Vicente de los Mozos, CEO of Indra.
The transaction is expected to be completed in the first half of 2023 and is subject to customary regulatory approvals.
