Rockwell Collins, Inc. (NYSE: COL) today announced its intent to acquire SEOS, a leading global supplier of highly realistic visual display solutions for commercial and military full flight simulators. Terms of the agreement were not disclosed.
After completion of the transaction, SEOS will operate under the Rockwell Collins name and will become part of the Simulation and Training Solutions organization.'We are pleased to bring SEOS' expertise and excellent customer affinity to Rockwell Collins. Their state-of-the-art displays, coupled with our industry-leading image generators, create a fully integrated visual system that is truly greater than the sum of its parts,' said Rockwell Collins Chairman, President and CEO Clay Jones. 'The addition of SEOS' innovative displays to our simulation and training offering further enhances our ability to deliver a highly realistic training experience to our commercial and military customers.' 'SEOS has enjoyed a wonderful 24 years as an independent company within the simulation industry - but we now feel that for the benefit of our customers and staff, we need a strong partner to take us to the next level,' said Owen Wynn, executive chairman of SEOS. 'Rockwell Collins is the perfect choice because of the wonderful synergies between the two companies. We are all extremely excited about the prospects of working together in the future.' The transaction is expected to be completed in about 30 days and is subject to regulatory approvals. The acquisition is not expected to have a material impact on Rockwell Collins' fiscal year 2009 earnings. SEOS, which has 150 employees and is headquartered in West Sussex, U.K., provides complete design, development, production, installation and support services that are used worldwide in simulators for military and commercial flight, air traffic control, marine and surface transportation. The company has established a worldwide reputation for supplying innovative, high quality, cost-effective display solutions. |
