Rockwell Collins to Buy Carlyle’s Arinc for $1.39 Billion
By Julie Johnsson & Thomas Black - 2013-08-12T21:16:29Z
Rockwell Collins Inc. Chief Executive Officer Kelly Ortberg landed Arinc Inc., the company’s biggest acquisition, after months of talks with owner Carlyle Group LP -- and just 11 days in the new job.
The $1.39 billion transaction announced yesterday is the largest U.S. aerospace and defense deal unveiled this year and will expand Rockwell Collins’s aerospace business outside the cockpit by combining its avionics and cabin technologies with Arinc’s communications networks.
Ortberg, 53, spearheaded the acquisition effort as he prepared to take over as CEO of Cedar Rapids, Iowa-based Rockwell Collins Aug. 1, replacing Clay Jones, who retired. The purchase gives Rockwell Collins a profitable company with a global customer base and an air-to-ground communications system that should give pilots a wealth of data as air traffic control systems are modernized, he said.
Monday, August 12, 2013
ARINC Bought by Rockwell Collins
Posted by BlogAdmin at 21:19