Safran acquires artificial intelligence company Preligens for €220 million

French jet engine maker Safran Group said on Monday it had reached an agreement to buy artificial intelligence company Preligens for 220 million euros ($243.3 million).

Preligens, which focuses on AI in aerospace and defense, will be renamed Safran Artificial Intelligence (Safran.AI) and will become part of Safran & Defense's business area, which develops sophisticated algorithms and software to analyze and automate the detection and identification of military targets using commercial and government satellite imagery, Safran said.

“By joining forces, we are determined to not only support the development of Preligens' AI solutions, but also to work together to open up entirely new areas of application of AI in the aeronautics, defense and space sectors,” Safran & Defense CEO Franck Saudo said in a press release.

($1 = 0.9042 euros).