Phaeros Group has been acquired by Saab, a defence and aerospace solutions provider based in Sweden.

The transaction will help enhance Saab‘s maritime traffic management business worldwide.

"The transaction will help enhance Saab‘s maritime traffic management business worldwide."

Headquartered in Belgium, Phaeros Group is engaged in developing software applications primarily for port and cargo terminal industry.

Zhongwang USA has agreed to acquire Aleris Corporation for an aggregate value of $2.33bn. The transaction is expected to be completed by next March.

Based in Ohio, US, Aleris produces aluminium-rolled products for a number of industries, including aerospace and defence.

The deal allows Aleris to expand its services to the aerospace and automotive sectors.