Calgary, Alberta – March 1, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today announced that it has received approval from the TSX Venture Exchange for the proposed acquisition of CrossConsense GmbH & Co. KG (“CrossConsense”). The arms’ length acquisition of CrossConsense is expected to accelerate FLYHT’s strategic roadmap to build out a maintenance capability, and will fulfill the Company’s goal to increase its presence in the European and Middle East markets.
Under terms of the agreement, previously announced on January 27, 2022, FLYHT (through its wholly owned German subsidiary formed as part of this transaction) will acquire all of the outstanding securities of CrossConsense. This agreement is to be effective January 1, 2022. The parties anticipate closing the transaction as soon as possible after final approval has been received from the German government.
About FLYHT Aerospace Solutions Ltd.
FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, delivering industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by FLYHT’s patented aircraft certified hardware products including AFIRS™, a satcom aircraft interface device which enables real-time streaming of flight information, cockpit voice and black box data streaming, AFIRS Edge, a state-of-the-art 5G WQAR and satellite data communications device, and TAMDAR™ and the FLYHT-WVSS-II™, which deliver airborne weather and humidity data in real-time. FLYHT is headquartered in Calgary, Canada with an office in Littleton, Colorado, and is an AS9100 Quality registered company.For more information view our latest presentation here, or visit http://www.flyht.com.
About CrossConsense GmbH & Co. KG
Founded in 2002, Frankfurt Germany-based CrossConsense offers its customers in the commercial aviation industry, highly skilled services, designed to enhance their productivity and uptime performance, based on sound knowledge in the areas of maintenance, engineering and logistical support. CrossConsense maintains a staff of 24 dedicated, experienced, and motivated team workers. For more information, visit https://www.crossconsense.com.
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- Source: https://canadianaviationnews.wordpress.com/2022/03/01/flyht-receives-tsx-venture-exchange-approval-for-acquisition-of-crossconsense/
