The flight-simulation technology company formerly known as Canadian Aviation Electronics has agreed to buy TRU Simulation + Training Canada, a subsidiary of Textron that also manufactures flight simulators. The $40-million all-cash deal will include Textron’s flight simulator-manufacturing operations in Montreal, a minority interest in a joint venture in Iceland, and some assets in France and Malaysia. (Financial Post)

Talking point: CAE recently underwent a major restructuring worth $100 million after its revenue dropped in the quarter ended June 30. The company’s civil-aviation training centres were running at just a third of usual capacity during the first few months of the pandemic, and revenue for that division dropped 48 per cent. More recently, the company obtained a $150-million equity investment from the CDPQ, to support its $70-million purchase of Flight Simulation Company. In the wake of the pandemic, CAE temporarily pivoted to manufacturing ventilators, making 10,000 units that were due to be delivered starting May.