FLYHT Aerospace Solutions Acquired by Firan Technology Group

FLYHT Aerospace Solutions Ltd. has finalized its acquisition by Firan Technology Group Corporation (FTG), as per a court-approved plan under the Canada Business Corporations Act. This strategic move is set to enhance FLYHT’s growth and service capabilities in the aerospace and defense sectors. Mary McMillan, Interim CEO of FLYHT, expressed enthusiasm about the collaboration with FTG, a leader in aerospace electronics, to address industry challenges.

FTG President Brad Bourne highlighted the acquisition's significance for expanding their commercial aerospace reach, particularly with FLYHT's SATCOM product on Airbus aircraft. The acquisition involves an arrangement where FLYHT shareholders could opt for cash, FTG shares, or a combination, subject to certain limits. As part of this transition, FLYHT’s shares are anticipated to be delisted from the TSX Venture Exchange by year-end.