Sweden’s Saab AB this week said it has agreed to acquire the Dutch firm HITT N.V. for $38.4 million in line with the company’s strategy to be a global leader in traffic management.
The acquisition is expected to close in October pending the tender of HITT’s shares. More than 70 percent of HITT’s shareholders have agreed to the deal.
HITT provides air and marine traffic management services globally, as well as hydrographic and navigation systems.
Saab said the combination will give it a “strengthened market presence and a strong portfolio of world leading products, combining innovative software systems with state of the art sensor systems.” Saab said it has limited overlap with HITT.