ROCKWELL
Rockwell had a long history of technology innovation in a number of areas, including microprocessors, factory automation controls and motors, radios, advanced aircraft and space vehicles, and advanced communications systems and Global Positioning Systems (GPS).
Started in 1919 as a auto parts factory in Wisconsin, Rockwell evolved in one of the largest manufacturers of defense and aerospace products. Rockwell has been a long-time supplier of radar and advanced communications to the U.S. government. Its research into aerospace technology won key government contracts to develop advanced aircraft and space vehicles, including the Apollo lunar craft. However, Rockwell recently left the aerospace industry to place emphasis on its communications efforts.
Rockwell Collins was a leader in aviation and high-integrity solutions for commercial and military customers and is globally recognized for its leading-edge avionics, flight controls, aircraft interior and data connectivity solutions. On a 2017 pro forma basis, its estimated sales are greater than $8 billion.
Rockwell Collins is a leader in aviation and high-integrity solutions for commercial and military customers around the world. Every day we help pilots safely and reliably navigate to the far corners of the earth; keep warfighters aware and informed in battle; deliver millions of messages for airlines and airports; and help passengers stay connected and comfortable throughout their journey. As experts in flight deck avionics, cabin electronics, cabin interiors, information management, mission communications, and simulation and training, we offer a comprehensive portfolio of products and services that can transform our customers' futures.
MERGERS AND ACQUISTIONS
Rockwell and aerospace giant North American Aviation merged in 1967 to form Rockwell North American. In 1973, Rockwell North American acquired Collins Radio, a leading producer of aircraft avionics, commercial telecommunications, and communications systems; the company changed its name to Rockwell International. Rockwell increased its electronics expansion with the purchase of Milwaukee-based Allen-Bradley in 1985. Just a decade later, Rockwell acquired Reliance Electric, an industrial motor, drive, and transmissions company. Rockwell left the Aerospace industry on December 6, 1997, when the company announced that it was selling its Aerospace and Defense divisions to Boeing. On March 17, 1997, Rockwell announced that it would spin off its automotive components business by September 1997 and will emerge as a 100% electronics company serving world markets through its three leadership businesses -- Automation, Semiconductor Systems and Avionics & Communications.
On 04 September 2017 United Technologies Corp. (NYSE: UTX) ("UTC") and Rockwell Collins, Inc. (NYSE: COL) ("Rockwell Collins") announced that they had reached a definitive agreement under which United Technologies will acquire Rockwell Collins for $140.00 per share, in cash and UTC stock. UTC expected to fund the cash portion of the transaction consideration through debt issuances and cash on hand, and the company is committed to taking actions to maintain strong investment grade credit ratings. 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. The purchase price implies a total equity value of $23 billion and a total transaction value of $30 billion, including Rockwell Collins' net debt.
The US Department of Justice on 01 October 2018 said it had reached an agreement to allow United Technologies Corp. to buy Iowa-based aviation systems maker Rockwell Collins for $30 billion once the Farmington-based conglomerate made certain divestitures. DOJ determined that without the selloffs, the deal would substantially curb competition for pneumatic deicing systems for aircraft wings and actuators. UTC said it would comply with DOJ's request.
Upon completion of the transaction, Rockwell Collins and UTC Aerospace Systems would be integrated to create a new business unit named Collins Aerospace Systems. Kelly Ortberg assumed the role of Chief Executive Officer with Dave Gitlin serving as President and Chief Operating Officer.
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