Communication and aviation electronics solutions provider Rockwell Collins, Inc. (COL) Tuesday said it intends to acquire AR Group, Inc., and its affiliated companies including Air Routing International, a provider of trip support services for business aircraft flight operations. Terms of the deal, expected to be completed in the about about 40 days, however, were not disclosed.
As per the terms of the deal, Rockwell Collins would acquire all outstanding shares of AR Group, Inc. and its affiliated companies. Rockwell Collins expects the acquisition to be neutral to its fiscal year 2010 earnings.
The acquisition of Air Routing will extend the Rockwell Collins' service offerings to enable global flight operation support services that leverage emerging connectivity solutions.
Commenting on the acquisition, Clay Jones, President and CEO of Rockwell Collins said, "The acquisition of Air Routing will broaden our information management and aftermarket services offerings."
Rockwell Collins currently provides flight deck, cabin and information management solutions to business aircraft operators, while Air Routing has been providing flight departments with trip planning services for more than 30 years.
COL is currently trading on $53.94, down $0.19 or 0.37%, on a volume of 0.30 million shares.
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