Leonardo DRS sells the stake in the Advanced Acoustic Concepts Joint Venture to TDSI, a subsidiary of Thales

(To Leonardo)

Today Leonardo announces that the US subsidiary Leonardo DRS has signed a binding agreement for the sale of the stake in the Joint Venture Advanced Acoustic Concepts (AAC) to TDSI, a subsidiary of the French company Thales.

Il closing of the transaction is subject to regulatory authorizations and customary conditions closing and expected for the second half of 2022. Leonardo confirms the Guidance 2022 relating to the Group Net Debt equal to approx. 3,1 billion euros.

Alessandro Profumo, CEO of Leonardo, commented - “The operation represents a further step forward in the execution of the Industrial Plan, in line with the focus on the core business. Together with the recent sale of the GES business, this represents a further step forward in the process of refocusing the DRS business portfolio "

AAC is one joint Venture between Leonardo DRS and Thales Defense & Security. AAC is a US company active in the field of advanced sonar systems, training and knowledge management.

The company works with the United States Navy as a US industry contractor, providing innovative systems and solutions in the Navy's underwater sensor domain. With over 200 employees, AAC generated $ 80 million in revenue in 2021.