PARIS — Safran Electronics & Defense, a diversified aerospace and defense contractor that also builds inertial navigation systems, has purchased atomic-clock manufacturer Orolia from private-equity investor Eurazio for 189 million euros ($192.4 million) to consolidate its position in resilient positioning, navigation and timing (PNT) systems.
The transaction had been expected since Safran and Orazio announced in December that they had entered exclusive negotiations in view to a sale.
Eurazeo purchased a majority stake in Orolia in 2016 for 72 million euros . . .
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