CAE to acquire a majority stake in SIMCOM Aviation Training from Flexjet for $230m.

CAE, a manufacturer of simulation technologies, modelling technologies and training services to airlines, aircraft manufacturers, healthcare specialists, and defence customers, agreed to acquire a majority stake in SIMCOM Aviation Training, a simulator-based and in-aircraft training provider, from Flexjet, a provider of fractional ownership aircraft, leasing, and jet card services, for $230m. "We are delighted to increase our investment in this core area and achieve majority ownership of SIMCOM to strengthen our position in the business aviation market, as well as extend our long-standing partnership with Flexjet, one of the leading and fastest growing private jet companies. This highlights our commitment to continuing to drive innovation and provide industry-leading technology to better serve our business aviation customers," Alexandre Prévost, CAE Division President, Business Aviation.