Safran enters discussions to acquire Preligens

Safran has entered into exclusive discussions to acquire 100% of Preligens for an enterprise value of €220 million. Founded in 2016, Preligens provides field-proven AI analytics solutions for high-end imagery, full motion video and acoustic signals. The company develops complex algorithms and software to analyse and automatically detect and identify objects of military interest notably using commercial and government satellite images. The company employs approximately 220 employees, including 140 engineers in research & development. Safran said the potential acquisition could allow for it to add AI capabilities to its product offering and to accelerate its digital transformation roadmap. Safran chief executive officer Olivier Andries commented: ""With multiple applications, it will represent a step-change for our defence and space technology businesses and will also allow us to deploy AI-enabled digital inspection methods to support our focus on flight safety and quality"". The transaction is expected to close in the third quarter of the year.