Rockwell Collins acquires IP Unwired, Inc
CEDAR RAPIDS, Iowa (September 06, 2006) - Rockwell Collins, Inc. (NYSE: COL), a global leader in aviation electronics and communications, has acquired all outstanding shares of IP Unwired, a privately owned developer of high data rate HF/VHF/UHF modem and networking products and services for U.S. and international military customers.
“This acquisition strengthens our network-centric operations offerings,” said Rockwell Collins Chairman, President and CEO Clay Jones. “IP Unwired’s capabilities and technologies help enable the connectivity that our military needs today and align well with our continued growth in Transformational Defense Communication.”
“Rockwell Collins is a natural fit for IP Unwired. We have enjoyed close business ties since our company was founded,” said IP Unwired’s President Gerard Nourry. “Rockwell Collins’ strong market presence will facilitate the penetration of our products in maritime, air and other market segments. Maximizing the strong synergies between both companies will result in advanced network-centric operational capabilities to the benefit of our military customers.”
Acquired for an undisclosed amount of cash, IP Unwired, with annual revenues of approximately $3 million, will not materially affect Rockwell Collins’ earnings for the fiscal year ending September 30, 2006. Approximately 30 IP Unwired employees will join Rockwell Collins.
IP Unwired, located in Ottawa, Canada, is a worldwide provider of advanced digital communications and networking technology, inventing innovative communications and networking technologies for challenging wireless environments.
Rockwell Collins is a pioneer in the development and deployment of innovative communication and aviation electronics solutions for both commercial and government applications. Our expertise in flight deck avionics, cabin electronics, mission communications and information management is strengthened by 17,000 employees, and a global service and support network that crosses 27 countries. To find out more, visit www.rockwellcollins.com.
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 but not limited to the risks inherent in the integration of IP Unwired into Rockwell Collins.
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