Rockwell Collins to Acquire DataPath, Inc.

Dépèche transmise le 1 avril 2009 par Business Wire

Rockwell Collins to Acquire DataPath, Inc.

Rockwell Collins to Acquire DataPath, Inc.

CEDAR RAPIDS, Iowa--(BUSINESS WIRE)--Rockwell Collins, Inc. (NYSE: COL) today announced its intent to acquire DataPath, Inc., a global leader in creating satellite-based network communication solutions.

DataPath, Inc., which has more than 600 employees around the world, designs, integrates, manages and deploys satellite communication (SATCOM) systems for military and commercial customers. Its SATCOM solutions include multi-band SATCOM terminals, network control software to manage and control communication networks, and global field support services.

“The acquisition of DataPath will broaden and strengthen our position in networked communications – an area of rapid growth for military customers around the world,” said Rockwell Collins Chairman, President and CEO Clay Jones. “DataPath’s strong customer relationships, expansive product line, and experience in developing satellite communication solutions make it an ideal fit for our communications portfolio.”

"I am very pleased that DataPath is becoming part of the Rockwell Collins’ family,” said DataPath CEO Tom Dyer. “The transaction provides our employees with new business opportunities, our shareholders with liquidity and our company with the resources necessary to continue to build on its position as a market leader in the development and delivery of world-class communication solutions to our customers."

Pursuant to the terms of the agreement, Rockwell Collins will acquire all outstanding shares of DataPath, Inc. in a cash transaction worth approximately $130 million. Of that amount, approximately $110 million is associated with existing DataPath debt and other obligations. The transaction is expected to be completed in about 45 days and is subject to customary conditions to closing, including regulatory and other approvals. The acquisition is expected to be neutral to Rockwell Collins’ fiscal year 2009 earnings.

About DataPath, Inc.

DataPath® is a global leader in creating satellite-based network solutions that solve customers’ toughest communications challenges. We specialize in enabling highly complex, video-intensive communications networks that are critical to the operations of military, civilian government and commercial organizations. Even in the most urgent time frames and extreme conditions, we establish and maintain communications anywhere and deliver total network control through our communications solutions, MaxView® network control software and comprehensive services. SWE DISH Satellite Systems AB, a Stockholm-based, global leader in the design and manufacture of mobile satellite communications systems, is a wholly owned subsidiary. DataPath is headquartered in Duluth, Ga., U.S.A. and operates via more than two dozen offices and distributor locations around the world. For more information, visit www.datapath.com.

About Rockwell Collins

Rockwell Collins (NYSE: COL) 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, information management and simulation and training is delivered by nearly 20,000 employees, and a global service and support network that crosses 27 countries. To find out more, please 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 DataPath into Rockwell Collins.


Business Wire

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