In brief

Embraer and SPX Capital announced on September 3 the merger of Tempest Security Intelligence, the aircraft maker's unit, with Vision Cybersecurity, owned by the asset manager, creating a cybersecurity company with R$ 700 million in annual revenue, per CNN Brasil and NeoFeed.

The deal is a share swap with no financial transaction: SPX becomes the controlling shareholder and Embraer remains a relevant shareholder; the company will have 900 employees, 600 clients and regional headquarters in Vitória and Recife, keeping both brands initially, per CNN Brasil.

André Fleury, Vision's CEO, will run the new company and João Lins, Tempest's CEO, becomes vice president of technology and innovation; the deal depends on Cade approval and the company's name is not yet defined, per CNN Brasil.

What we know

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  1. Verified fact · material

    Embraer and SPX Capital merged Tempest and Vision, creating a cybersecurity company with R$ 700 million in annual revenue.

    It consolidates the largest domestic provider of digital security services.

    Sources[01][02]

  2. Verified fact · material

    The deal is a share swap: SPX takes control of the new company and Embraer remains a relevant shareholder.

    Embraer stops consolidating Tempest and becomes a minority partner.

    Sources[01][02]

  3. Verified fact

    The company will have 900 employees and 600 clients, with André Fleury as CEO and João Lins as technology vice president, per CNN Brasil.

    Scale and leadership define the integration.

    Sources[01]

  4. Context

    The deal depends on Cade approval and the new company's name is not yet defined.

    Completion still has a regulatory step pending.

    Sources[01][02]

Transmission to assets

Market read-through

For EMBJ3EmbraerOrganizationBrazilian maker of commercial, executive and defense jets, with arms in services, cybersecurity (Tempest) and urban air mobility (Eve), listed on B3 as EMBJ3.Open in the Market Map ↗, the share swap turns a small non-aerospace unit into a minority stake in a larger asset without touching cash; the balance-sheet effect is limited.

For the tech sector, SPX gains a consolidation platform in a fragmented security-services market.

Portfolio impact

01
EMBJ3 (Embraer)uncertain

Embraer swaps control of a non-aerospace unit for a minority stake in a larger asset, with no cash; value depends on the final stake and SPX's execution.

Uncertain and small in magnitude for Embraer.

What would change the view: The read turns positive if Embraer's stake is meaningful and the combined company accelerates; it turns negative if Cade imposes conditions.

direct35% confidence

Direction is an explanatory hypothesis, not a forecast or recommendation.

Next signals

What to watch

  • Cade approval and Embraer's exact stake in the new company.
  • Name and governance structure of the combined company.

Limits of the reporting

What remains uncertain

  • Each partner's percentage stake was not disclosed.
  • The R$ 700 million figure refers to combined annual revenue, not the deal value.

Full sources

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01
CNN BrasilEmbraer e SPX criam empresa de cibersegurança de R$ 700 milhõesindependent newsroom
02
NeoFeedO M&A da cibersegurança: SPX e Embraer articulam fusão e criam empresa de R$ 700 milhõesindependent newsroom
06