Cassidian and Atlas Elektronik of Germany have given the name Signalis to its newly created maritime security joint venture, the defense and security division of the EADS group said in a Jan. 11 statement.
The joint venture company has been formed from the merger of the EADS Cassidian Sofrelog unit and Atlas Maritime Security, a subsidiary of Atlas Elektronik, intended to create a leading player in the market for marine systems.
"Baptized Signalis, this new company will officially begin activities in January 2011," Cassidian announced in a statement. The name draws on the terms "signal" and "IS," standing for information systems, the company said. "This merger will allow us to offer our clients solutions which respond to ever increasingly complex needs in security and safety in the land and maritime domains," said Hervé Guillou, chief executive of Cassidian Systems.
The joint venture was forecast to have 2010 sales of more than 50 million euros ($65 million).
A final clearance in December of the European antitrust authorities allowed the merger to be completed on time, according to EADS. The European Commission gave initial approval in October. The parent companies agreed to the merger in June. Signalis specializes in vessel traffic services, products that allow port authorities to track shipping movements on a relatively local scale, to the larger, more complex coastal surveillance system, which allows wider area coverage. EADS owns 60 percent, and Atlas 40 percent, of Signalis, which employs more than 190 maritime surveillance specialists in France and Germany.
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