Saab AB announced on May 31st that the company has completed a transaction with Lumibird SA whereby Lumibird, through a newly established Swedish subsidiary based in Gothenburg, is acquiring Saab’s laser rangefinder business.
The transaction, which was signed in March 2021, was subject to a number of conditions, all of which now have been fulfilled. As part of the transaction, 27 Saab employees in Gothenburg will be affected and join the newly established subsidiary Lumibird Photonics Sweden AB. The divested operations had revenues of around EUR 10 million in 2021.
“The divestment is yet another stage in the increased focus on our core business and we are convinced that the laser business makes a good strategic fit within the Lumibird Group,” says Carl-Johan Bergholm, head of Saab’s business area Surveillance.