Rockwell Collins acquired by United Technologies for $30bn

A passenger using Rockwell Collins' PAVES Wireless system.
A passenger using Rockwell Collins’ inflight connectivity

United Technologies is to acquire Rockwell Collins for $140.00 per share, in cash and UTC stock, in a deal said to be worth $30bn.

The transaction is projected to close by the third quarter of 2018, subject to approval by Rockwell Collins’ shareowners, as well as other customary closing conditions, including the receipt of required regulatory approvals.

Upon completion of the transaction, Rockwell Collins and UTC Aerospace Systems will be integrated to create a new business unit named “Collins Aerospace Systems”.

Kelly Ortberg, the present Chairman, President and Chief Executive Officer of Rockwell Collins, will assume the role of Chief Executive Officer with Dave Gitlin serving as President and Chief Operating Officer.

Greg Hayes, UTC Chairman and Chief Executive Officer, said: “This acquisition adds tremendous capabilities to our aerospace businesses and strengthens our complementary offerings of technologically advanced aerospace systems.

Together, Rockwell Collins and UTC Aerospace Systems will enhance customer value in a rapidly evolving aerospace industry by making aircraft more intelligent and more connected.

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 share owners.

This combination will also create new opportunities for the talented employees of both companies to advance innovation in a growing and dynamic industry.

Importantly, UTC and Rockwell Collins share cultures of mutual trust and respect, accountability and teamwork that will allow us to work together to achieve our common goals.”

Kelly Ortberg said: “We are extremely pleased to announce this compelling transaction with UTC which is a testament to the value we have created for Rockwell Collins’ employees, customers and share owners.

The combination will enable us to compete more effectively for future business through continued investments in innovation, world-class integrated product offerings and the ability to retain the top talent in the industry.

We look forward to the next chapter in Rockwell Collins’ long and proud history, as part of UTC.”

Like this feature? Subscribe to our free e-newsletter and get lots more.

You May Also Like