Aerospace equipment supplier Safran announced on Monday that it is in exclusive discussions to acquire Preligens, a specialist in artificial intelligence solutions for aerospace and defense, for an estimated enterprise value of 220 million euros.

"With multiple applications, this contribution would represent a major step forward for the development of our defense and space activities, and would also enable us to deploy digital inspection methods to enhance flight quality and safety," said Safran CEO Olivier Andriès in a statement.

The deal is expected to close in the third quarter of 2024.

(Written by Diana Mandiá, edited by Blandine Hénault)