CASSIDIAN boosts global Security Electronics Business

14 March 2011

  • Cassidian, the defence and security division of EADS enters into agreement to acquire the majority share in South African company Grintek Ewation
  • Cassidian and grintek Ewation are providing complementary skills in Communications Electronic Warfare, Governmental Intelligence and Electronic Protection

Cassidian, the defence and security division of EADS, boosts its global security electronics business by entering into an agreement to acquire the majority shareholding in South African Electronic Warfare specialist company, Grintek Ewation (GEW), Pretoria.

Cassidian will increase its 45 per cent share in GEW to 87,4 per cent by acquiring the 42,4 per cent share of SAAB South Africa. A 12.6 per cent share is held by Kunene Finance Company. The increase of local shareholding remains a priority to be addressed in the near future. The transaction which is valued at a two-digit million Euro sum is subject to formal approval from South African competition authorities.

« Grintek Ewation capitalizes on outstanding competencies in the fields of Communications Electronic Warfare », explained Bernd Wenzler, CEO of Cassidian Electronics. « These are complementary to our existing skills in governmental intelligence and electronic protection, and therefore give us an excellent basis to grow this business vigorously. »

“This new shareholding structure takes the long standing relationship with EADS to a new level” said Carel van der Merwe, CEO of Grintek Ewation. “The advantage of this closer relationship provides the opportunity for future growth and competitiveness on a global scale”.

About Grintek Ewation

Grintek Ewation (Pty) Ltd is a system engineering company with more than 40 years experience in the design and production of sophisticated communication monitoring, direction finding, countermeasures, spectrum management and integrated security systems incorporating a wide range of surveillance and monitoring products.

GEW has a workforce of approximately 300 people and has maintained a close cooperation with Cassidian over a decade.

About CASSIDIAN (www.cassidian.com)

Cassidian, an EADS company, is a worldwide leader in global security solutions and systems, providing Lead Systems Integration and value-added products and services to civil and military customers around the globe: air systems (aircraft and unmanned aerial systems), land, naval and joint systems, intelligence and surveillance, cyber security, secure communications, test systems, missiles, services and support solutions. In 2009, Cassidian – with around 28,000 employees – achieved revenues of € 5.4 billion. EADS is a global leader in aerospace, defence and related services. In 2009, the Group – comprising the Divisions Airbus, Astrium, Cassidian and Eurocopter – generated revenues of € 42.8 billion and employed a workforce of more than 119,000.

CASSIDIAN – Defending World Security

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