Rockwell Collins buys ARINC for $1.39 billion
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Aviation and military electronics manufacturer Rockwell Collins said Sunday the purchase headquartered in Annapolis, Maryland, ARINC 1.39 billion dollar company from investment firm Carlyle Group.
Cedar Rapids-based Rockwell Collins, now more than half its business with the government, are seeking new commercial customers. ARINC company focused on networks and services, while the work of Rockwell Collins avionics and cockpit technologies.
Rockwell Collins acquisition will reduce our reliance on government contracts from the current 52 to 46 percent of the business. ARINC this year is expected to be over 600 million in revenue, Rockwell said.
Analysts on average expected Rockwell Collins has released the fiscal year ended September 4.64 billions in revenue, down 2 percentage points, from 4.73 billion dollars in fiscal year 2012 report.
ARINC, in London and has offices in Singapore, employs approximately 3,200 people, according to Capital IQ. Notice did not include information about the agreement would lead to any immediate unemployment.
Rockwell in the world with about 19,000 employees.
The transaction is subject to regulatory approval.
Rockwell Collins shares closed Friday at $ 74.42, up 28% since the beginning of the year. The Carlyle Group LP shares ended the week at $ 27.05, in 2013, an increase of 4%.