Rockwell Collins’ Latest Buy Takes Off
The Iowa aerospace company continues to make strategic acquisitions in the aerospace sector, acquiring AR Group.
November 24, 2009
Rockwell Collins, a Cedar Rapids, Iowa-based aerospace and defense technology company agreed to purchase AR Group, Inc., a flight scheduling company. Terms of the agreement were not disclosed.
The Houston, Texas-based target company, which includes the flagship unit Air Routing International, employs about 240. Stoneworth Financial advised AR Group in the transaction.
Cedar Rapids, Iowa-based Rockwell Collins employs about 20,000 worldwide. The transaction, expected to close in about 40 days, is subject to regulatory approval.
Earlier this month, the aerospace company reported $594 million in net income for the fiscal year ending September. The earning report marked a decline of 12 percent from the company’s net income of $678 million during the previous fiscal year.
Rockwell Collins’ purchase of AR Group follows on the aerospace company's purchase of DataPath, Inc. in June. The Duluth, Georgia-based target company, a mobile and satellite-based communication company, sold for about $130 million in cash. In April, Rockwell Collins purchased Athena Technologies, Inc., a company that develops flight control and navigation services to unmanned airplanes.
As of press time, calls placed to Rockwell Collins were not returned. The company’s stock traded at $53.84 per share, as of early afternoon Tuesday.
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