Mirion Technologies Acquires Critical Infrastructure Business of Collins Aerospace

Rhea-AI Summary

Mirion Technologies (NYSE: MIR) has completed the acquisition of the Critical Infrastructure business from Collins Aerospace, specifically through its subsidiary ARINC Incorporated. This acquisition aims to enhance Mirion's capabilities in command-and-control software solutions, particularly for nuclear power facilities and government security. The new division, branded as Secure Integrated Solutions (SIS), is expected to bolster Mirion's digital solutions for its industrial clients, leveraging the expertise of the acquired team in software development.

Positive

• Acquisition of CI business enhances digital solutions for industrial customers.
• Strengthened capabilities in cybersecurity for nuclear power plants.
• Integration of a talented software development team aligned with Mirion's offerings.

Negative

• None.

Mirion Technologies acquires Critical Infrastructure business of Collins Aerospace to expand capabilities in software, cybersecurity

ATLANTA--(BUSINESS WIRE)-- Mirion Technologies, Inc. (NYSE: MIR) (“Mirion”), a leading provider of comprehensive systems that detect and monitor radiation in medical, industrial and defense end markets, today announced the acquisition of the Critical Infrastructure (CI) business of Collins Aerospace (through ARINC Incorporated, a subsidiary of Collins Aerospace) is now complete, and the CI business will integrate under the Mirion brand as Secure Integrated Solutions (SIS).

Operating out of Carrollton, TX and Pittsburgh, PA, the CI business specializes in command-and-control software solutions for nuclear power plants and government facilities to protect their systems against cybersecurity threats or compromises. The CI team brings significant depth of talent in software development that is closely aligned with Mirion’s offerings. The CI business will be pivotal in accelerating the software platform consolidation and digital roadmap execution for the Mirion Industrial Group.

“We look forward to welcoming the employees of the CI business to the Mirion team. They have built a leading position in the commercial nuclear power security software market, which should enhance our ability to offer broader digital solutions to our industrial customers,” said Mirion Technologies CEO Thomas Logan.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “hope,” “intend,” “may,” “might,” “should,” “would,” “will,” “understand” and similar words are intended to identify forward looking statements. These forward-looking statements include, but are not limited to, statements regarding the acquisition of the Critical Infrastructure business and Mirion’s ability to offer digital solutions to its customers. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including those described under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” set forth in filings and reports we make from time to time with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q.

You should not rely on these forward-looking statements, as actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

About Mirion
Mirion Technologies, Inc. (NYSE: MIR) (“Mirion”) is a leading provider of detection, measurement, analysis and monitoring solutions to the nuclear, defense, medical and research end markets. The organization aims to harness its unrivaled knowledge of ionizing radiation for the greater good of humanity. Headquartered in Atlanta (GA – USA), Mirion employs around 2,600 people and operates in 13 countries. For more information, and for the latest news and content from Mirion, www.mirion.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220809005003/en/

For investor inquiries:

Jerry Estes, Manager, Investor Relations

ir@mirion.com

For media inquiries:

Matthew Maddox, VP of Marketing

mmaddox@mirion.com

Source: Mirion Technologies, Inc.

FAQ

What is the significance of the acquisition of Collins Aerospace's Critical Infrastructure by Mirion Technologies?

The acquisition expands Mirion's capabilities in cybersecurity and command-and-control software for nuclear facilities.

How will the acquisition affect Mirion Technologies' market position?

It is expected to enhance Mirion's ability to offer comprehensive digital solutions, potentially increasing its market share in the nuclear security software sector.

What will the new division of Collins Aerospace be called under Mirion Technologies?

The Critical Infrastructure business will operate under the name Secure Integrated Solutions (SIS).

Where will the integrated operations of Collins Aerospace's CI business be located?

The operations will be based in Carrollton, TX, and Pittsburgh, PA.

What potential benefits does the acquisition bring to Mirion Technologies?

It provides synergies in software development, enhances cybersecurity offerings, and helps accelerate Mirion's digital roadmap.