DAE Services acquires software developer
Technology company DAE Services has acquired flugwerkzeuge, an aviation software developer, for US$25 million.
Austrian-based flugwerkzeuge will continue creating and distributing cost-optimising flight planning technology for carriers, including Virgin Atlantic, Malaysia Airlines and United Airlines.
Omar Bin Sulaiman, managing director of DAE Service's parent company DAE Group, believes the acquisition is a major coup. "With this acquisition Dubai Aerospace Enterprise and its business unit, DAE Services, takes another significant step toward fulfilling Dubai's vision of building a 'centre of gravity' for aviation and aviation technology services in the region," he said.
DAE Services' acting CEO Kamilia Sofia added the vendor's technology, including latest product f:wz, is critical to the aviation industry. "Airlines are suffering from record high fuel prices and are looking for better technologies that will ease the burden," he said. "With its sophisticated flight planning software, f:wz offers optimisation solutions that deliver immediate and substantial savings," stated.
The deal provides flugwerkzeuge with a stronger global footprint, allowing it to work with other DAE companies and business partners, according to the vendor's CEO Captain Raimund Zopp.
Dubai-based DAE Group is an aviation company established in 2006 to acquire and establish industry-related interests.