Safran, an international high-technology group, operating in the aviation, defense and space markets, agreed to acquire the aeronautical electrical systems business of Thales, a French aerospace and defense industrial firm. Financial terms were not disclosed. "We are delighted with the prospect of joining forces with Thales's electrical teams, which will give us even greater competences over the electrical chain, thanks in particular to their leading skills in electrical conversion. The complementary nature of our expertise will also enable us to provide the market with ever more relevant and effective solutions," Stéphane Cueille, Safran CEO of Electrical & Power.