Rockwell Collins is to acquire German military avionics supplier Teldix from Northrop Grumman, the US company's first acquisition in Europe. The deal, expected to close this month, values Heidelberg-based Teldix at $94 million and includes $22 million in net cash plus the assumption of certain liabilities.
Teldix was acquired by Northrop Grumman as part of its Litton takeover in 2001. In January, L-3 Communications completed the $65 million cash purchase of the former Litton Systems Canada navigation systems and space sensors business from Northrop. The former Litton's German and Italian navigation systems businesses, Litef and Lital, are still owned by Northrop.
Teldix, which employs more than 400 people and had sales last year of around $90 million, produces avionics computers and cockpit displays for European military programmes, such as the Eurofighter Typhoon, Eurocopter Tiger, NH Industries NH90 and Panavia Tornado. The company complements Collins's Kaiser displays business.
Source: Flight International
