Leonardo announced today that its US subsidiary Leonardo DRS has signed a definitive agreement to transfer full ownership of Advanced Acoustic Concepts (AAC) Joint Venture to Thales subsidiary TDSI. The completion of the transaction is subject to regulatory clearances and customary closing conditions and expected in 2H2022.
Leonardo confirms its FY2022 Group Net Debt Guidance of ca. € 3.1 bn.
Alessandro Profumo, Leonardo CEO, stated: “The transaction is another step forward in the execution of our Industrial Plan, we are continuing to focus on our core business. In addition to the recent disposal of the GES business, this is a further step in the process of refocusing DRS business portfolio.”
Advanced Acoustic Concepts (AAC) is a joint venture between Leonardo DRS and Thales Defense & Security. AAC is one of the main US technical players in the fields of advanced sonar, training and knowledge management systems. AAC serves the US Navy as a US industry contractor, providing innovative systems and solutions across the Navy’s Undersea Warfare domain. With more than 200 employees, AAC generated $80 million sales in 2021.