MONTREAL - Training and simulator company CAE Inc. (
TSX:CAE,
Forum) has signed a deal to sell its mining software business to Constellation Software Inc. (
TSX:CSU,
Forum).
Financial terms of the deal were not immediately available.
CAE's Datamine business offers technology and services used to plan and manage mining operations.
It will operate within Constellation's Vela Software division.
Constellation Software is a provider of software and services to public and private sector markets, with t public sector segment focused on government and government-related customers, while the private sector segment focuses on commercial customers. The company has a long history of acquisitions in the B2B software space, among them the Canadian search engine Mamma.com.
CAE is best known for its flight simulators, which are used for training pilots around the world and can cost anywhere up to $15 million per installation.
The company announced in early 2014 that it was engaging in a $700m project to develop the next generation of its simulation platforms, with a 15-year $250m loan from Canada’s Strategic Aerospace and Defence Initiative (SADI) making the project possible.
CAE employs an estimated 8,000 employees worldwide. Constellation employs 2,000 people.