“Leonardo Finalizes Full Ownership Transfer of JV Advanced Acoustic Concepts to Thales’ TDSI Division”
Leonardo revealed today that its US subsidiary, Leonardo DRS, has finalized a comprehensive agreement to transfer full ownership of Advanced Acoustic Concepts (AAC) Joint Venture to Thales subsidiary TDSI. The completion of this deal is contingent upon regulatory approvals and standard closing conditions, anticipated in the latter half of 2022.
Leonardo reiterates its FY2022 Group Net Debt Prediction of approximately € 3.1 billion.
Alessandro Profumo, CEO of Leonardo, expressed: “This agreement marks another significant advancement in the implementation of our Industrial Strategy. We remain committed to enhancing our core operations. Alongside the recent divestiture of the GES segment, this represents an additional progress in the strategy to streamline the DRS portfolio.”
Advanced Acoustic Concepts (AAC) is a collaboration between Leonardo DRS and Thales Defense & Security. AAC stands as one of the leading technical entities in the United States within the domains of advanced sonar, training, and knowledge management systems. AAC acts as a key contractor for the US Navy, delivering innovative systems and solutions in the Navy’s Undersea Warfare sector. With a workforce exceeding 200 personnel, AAC recorded $80 million in revenue for 2021.
