PARIS (dpa-AFX) - Safran SA (SAF.PA), a French aerospace and defense company, Wednesday announced that it has entered a definitive agreement to sell Safran Passenger Innovations or SPI to Kingswood Capital Management.
The financial details of the transaction, which is expected to close in the first quarter of 2026, have not been disclosed.
SPI is the company's in-flight entertainment and connectivity solutions division and it generates around $460 million in revenue and employs around 740 people across three sites, two in the United States and one in Germany.
Kingswood will leverage its capital base, operational network, and expertise to grow the business and help it develop new connected in-flight entertainment solutions, which have become a key element of passenger experience as the aviation industry continues to expand, Safran said in a statement.
Currently, Safran shares are trading at 294.60 EUR, sown 0.07% on the Paris Stock Exchange.
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