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Investing.com -- AAR CORP. (NYSE:AIR), a provider of aviation services, has acquired Aerostrat, a long-range maintenance planning software company, for $15 million plus potential contingent consideration of up to $5 million.
The acquisition immediately expands AAR’s software offerings and the enterprise resource planning system capabilities of its Trax subsidiary.
Aerostrat’s flagship tool, Aerros, provides long-range heavy maintenance planning solutions to operators and MROs (Maintenance, Repair, and Overhaul organizations), regardless of the maintenance ERP system in use. The software currently supports more than 5,000 aircraft.
Aerros will be available as part of the Trax suite of products and will also continue to be offered separately for use on all ERP platforms.
Andrew Schmidt, Senior Vice President of AAR Digital Services and President of Trax, said, "This acquisition of Aerostrat marks an important step in AAR’s strategy to advance the next generation of maintenance products and services. By bringing Aerostrat alongside Trax, we create opportunities for further integration and scope expansion for existing Trax customers as well as Aerostrat customers."
Elliot Margul, CEO of Aerostrat, added, "Since founding Aerostrat, we have always been a customer-centric company that prides itself on building reliable, quality solutions that exceed our customers’ needs. We are thrilled to be a part of AAR as they share and encourage these same values."
Following the announcement, AAR stock rose 1% in Tuesday trading.
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