The following article first appeared on Air Transport Intelligence, an online business intelligence service for the air transport industry with 24 hour news and data available to subscribers.
Rockwell Collins has entered into a definitive agreement to acquire the simulation assets of Evans & Sutherland (E&S) for $71.5 million in cash.
The terms of the agreement call for Rockwell Collins to acquire E&S’s military and commercial simulation assets and certain unspecified liabilities, including simulation facilities in Utah, in Florida and in the UK.
Rockwell Collins will gain exclusive rights to the E&S laser projector for simulation. It also will hire about 200 E&S employees.
The acquisition, subject to regulatory and E&S shareholder approval, is expected to close in the second quarter. Rockwell says the acquisition will not have a material affect on profits by the time it reports figures in late September.
“Simulation and training offers a significant growth opportunity for our company,” says Rockwell Collins chief executive Clay Jones. “The acquisition of these valuable assets will further enhance our simulation and training capabilities and provide more robust solutions for our customers.”
E&S will retain ownership of its planetarium and other laser projector market offerings. It will continue to maintain its headquarters in Salt Lake City, Utah.
GREGORY TWACHTMAN / WASHINGTON, DC
Source: Flight International