UTC to buy Rockwell Collins
United Technologies (UTC) is to acquire Rockwell Collins for $30 billion, the company announced on 4 September.
Rockwell Collins specialises in avionics, flight controls, aircraft interior and data connectivity solutions for commercial and military customers.
The acquisition will add significant capabilities to UTC's aerospace businesses and its aerospace systems portfolio.
Greg Hayes, UTC chairman and chief executive officer, said: 'The integrated companies’ expertise in developing electrical, mechanical and software solutions will allow us to deliver more innovative products and services and provide greater value to our customers and shareowners.
'This combination will also create new opportunities for the talented employees of both companies to advance innovation in a growing and dynamic industry.'
Upon completion of the transaction, Rockwell Collins and UTC Aerospace Systems will be integrated to create a new business unit named Collins Aerospace Systems.
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