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8-K - CURRENT REPORT - ROCKWELL COLLINS INC | rockwell_8k.htm |
Exhibit 99
News Release
Rockwell Collins completes acquisition of ARINC Incorporated
ARINCs Industry Standards Organization and Aerospace Systems Engineering and Support business for military being divested
CEDAR RAPIDS, Iowa (Dec. 23, 2013) Rockwell Collins, Inc. (NYSE: COL) today announced it has successfully completed the acquisition of ARINC Incorporated from The Carlyle Group for $1.4 billion.
With this move we take a major leap forward to realizing our vision of providing a richer set of seamless information management solutions that encompass the aircraft and ground-based systems, said Kelly Ortberg, CEO and president of Rockwell Collins. The acquisition represents an exciting new growth platform for Rockwell Collins and shifts the balance of the company toward the expanding commercial aviation sector.
Combining ARINCs high-performance, high-quality and high-assurance networks and services with our information systems onboard the aircraft strengthens our ability to deliver improved efficiency and safety, and enhanced connectivity, added Ortberg. In addition, the acquisition opens up adjacent market opportunities by leveraging ARINCs strong presence in airport information systems and the broader transportation and security segments.
Integration process
The company expects the impact of the acquisition to be EPS accretive once certain transaction and integration costs have been incurred. The majority of integration activities
are expected to be completed in six to nine months. For the near term, customers can
expect business as usual, and should continue to work with their current sales
representatives, customer service centers and web-based resources.
Related divestures
To serve the best interests of the industry, and avoid any
perceived conflicts of interest, Rockwell Collins has completed the sale of
ARINCs Industry Standards Organization to SAE International simultaneously with
the completion of the ARINC acquisition. In addition, due to a lack of fit with
its long-term strategy, Rockwell Collins has initiated preparatory efforts to
divest ARINCs Aerospace Systems Engineering and Support business, which
provides military aircraft integration and modifications, maintenance, and
logistics and support. In total these businesses accounted for approximately 15 percent
of ARINCs FY13 revenues.
About Rockwell Collins
Rockwell Collins (NYSE: COL) is a pioneer
in the development and deployment of innovative communication and aviation
electronic solutions for both commercial and government applications. Our
expertise in flight deck avionics, cabin electronics, mission communications,
information management, and simulation and training is delivered by a global
workforce, and a service and support network that crosses 27 countries. To find
out more, please visit www.rockwellcollins.com.
Safe Harbor Statement
This press release contains statements
(such as projections regarding future performance) that are forward-looking
statements as defined in the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially from those projected as a result of certain
risks and uncertainties, including those set forth in the companys SEC filings
and the risks inherent in the integration of ARINC into Rockwell
Collins.
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Media Contacts:
Dave Yeoman
319.431.0864 mobile
ddyeoman@rockwellcollins.com
Pam Tvrdy-Cleary
319.431.0951
mobile
pjtvrdy@rockwellcollins.com
Investor Relations Contact:
Ryan
Miller
319.295.7575
investorrelations@rockwellcollins.com
Follow us on Twitter: @RockwellCollins