SAFRAN Buying Majority Stake in GE Homeland Protection

Anonymous let us know that Europe's SAFRAN is going to acquire 81% of GE Security's Homeland Protection business for $580 million. Both BODs have approved the sale, which is now subject to regulatory approval. SAFRAN decided to make this move in order to become a global player in airport security solutions.

The Homeland Protection business will become part of SAFRAN's Defense Security division, and its headquarters will stay in Newark, CA.

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By Planet Data