Barco announces divestment of Barco Orthogon business to Exelis
August 01, 2014
Kortrijk, Belgium, 1 August 2014 – Today, visualization specialist Barco and Exelis (NYSE:XLS) have reached an agreement regarding the sale of Barco Orthogon (Orthogon), a wholly-owned subsidiary of Barco NV, based in Bremen, Germany for an enterprise value of approximately EUR 13 million. Orthogon provides applications for air traffic flow management and decision making to airport operators and air navigation service providers (ANSPs) globally. Final closing of the transaction is subject to customary closing conditions and regulatory approvals and is expected to happen soon.