CAE Inc. offer for Engenuity expires - Subsequent acquisition transaction to follow



    MONTREAL, April 13 /CNW Telbec/ - (NYSE:   CGT; TSX: CAE) - CAE Inc.
("CAE") and 4341392 Canada Inc. ("Bidco", collectively with CAE, the
"Offeror") announced today that the cash offer (the "Offer") to purchase all
the issued and outstanding common shares (the "Engenuity Common Shares") of
Engenuity Technologies Inc. ("Engenuity"), as extended on March 30, 2007, has
now expired.
    On April 3, 2007, Bidco had taken up 14,902,225 Engenuity Common Shares.
An additional number of 45,990 Engenuity Common Shares have been tendered to
the Offer as of April 12, 2007; once those are taken up Bidco will hold a
total of 14,948,215 Engenuity Common Shares representing approximately 85.7%
of the total outstanding number thereof. The Offeror intends to take steps in
order to proceed with a subsequent acquisition transaction as soon as
practicable, pursuant to which the remaining Engenuity Common Shares which
have not been tendered to the Offer would be acquired. The Offeror owns a
sufficient number of Engenuity Common Shares to approve such a transaction at
any special meeting of shareholders called for that purpose.
    Upon completion of the subsequent acquisition transaction, the Offeror
intends to de-list the Engenuity Common Shares from the Toronto Stock Exchange
and to cause Engenuity to apply to securities regulatory authorities to cease
to be a reporting issuer.

    About CAE

    CAE is a world leader in providing simulation and modelling technologies,
and integrated training services to the civil aviation industry and defence
forces around the globe. We design, manufacture and supply simulation
equipment and offer training and services. This includes integrated modelling,
simulation and training solutions for commercial airlines, business aircraft
operators, aircraft manufacturers and military organizations and a global
network of training centres for pilots, and in some instances, cabin crew and
maintenance workers.
    With annual revenues of over C$1 billion, CAE operates in 19 countries
around the world. CAE has sold nearly 700 simulators and training devices to
airlines, aircraft manufacturers, training centres and defence forces for air
and ground purposes in more than 40 countries. We have over 110 full-flight
simulators in more than 20 aviation training centres, serving approximately
3,500 airlines, aircraft operators and manufacturers across the globe. CAE
licenses its simulation software to various market segments and has a
professional services division assisting customers with a wide range of
simulation-based needs.

    About Engenuity

    Engenuity develops commercial-off-the-shelf (COTS) simulation and
visualization software for the aerospace and defence markets. The company's
core products include VAPS, a software product used by aircraft and automobile
designers to create models and simulations of cockpit displays; STAGE, a
simulation toolkit used to create and interconnect simulation environments;
and AI.implant, an artificial intelligence (AI) tool used to model individual
and crowd behaviour for military simulations and the gaming industry.
Engenuity recently acquired AcuSoft, a modelling and simulation products and
services company based in Orlando, Florida, with a strong client base in the
US Army and Marine community. Engenuity is based in Montreal with offices in
Orlando, Atlanta, London, Paris and Dusseldorf as well as a worldwide
distributor network, and employs approximately 120 people.




For further information:

For further information: CAE : Nathalie Bourque, Vice President, Global
Communications, (514) 734-5788, nathalie.bourque@cae.com; Investor relations:
Andrew Arnovitz, Director, Investor Relations, (514) 734-5760,
andrew.arnovitz@cae.com; On the Web: www.cae.com

Organization Profile

CAE INC.

More on this organization

eNGENUITY TECHNOLOGIES INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890