12 Aug 13. FLIR Systems, Inc. (NASDAQ: FLIR) has acquired certain assets of DigitalOptics Corporation’s micro-optics business for a purchase price of $14.9m. Included in the purchase are fabrication equipment and more than 200 patents and pending applications associated with the design and production of complex optical surfaces, substrates, and low cost components. DigitalOptics’ micro-optics business, based in Charlotte, North Carolina, is a leading fabricator of wafer-scale specialty optics products, including lenses, lens arrays, optical receivers and transceivers, and various infrared optical components. These high volume, low cost optics technologies are used in a wide array of industries and applications, including security, surveillance, photolithography, data communications, laser-based medical equipment, and 3D gesture recognition.
“Bringing this low cost wafer scale micro-optics technology to our operations provides us significant capability and cost advantages as we move into high-volume markets for thermal imaging,” said Andy Teich, President and CEO of FLIR. “We look forward to adding these proprietary processes, manufacturing capabilities, and experienced engineering and production personnel to FLIR.”
11 Aug 13. Rockwell Collins, Inc. (NYSE: COL) has reached a definitive agreement to acquire ARINC Incorporated, a portfolio company of The Carlyle Group, and a leader in communications and information processing solutions for the commercial aviation industry, for $1.39bn.
“ARINC’s strong customer base, high customer retention rates and subscription business model will help the company achieve accelerated growth and benefit from greater earnings consistency throughout the commercial aviation business cycle” The transaction will bring together two leading players in the growing field of aviation information management, combining ARINC’s trusted networks and services with the industry leading avionics and cabin technologies developed by Rockwell Collins. ARINC broadly touches the entire aviation eco-system, including pilots, operators, maintenance, passengers, controllers, regulators, security, and airport operations. In addition, ARINC provides communications and information processing for the rail, industrial security and public safety segments. Their 2013 revenues are expected to be in excess of $600m. When completed, the acquisition will shift the balance of Rockwell Collins’ business to approximately 54 percent commercial and 46 percent government.
11 Aug 13. Beechcraft eyes return to profit fuelled by mining group orders. Beechcraft has predicted it will return to profit this year, only months after emerging from bankruptcy protection, as it benefits from demand for its propeller-driven aircraft from the natural resource industry. Bill Boisture, chief executive of the business aircraft manufacturer, said orders from mining and oil-drilling companies and the US defence department had bolstered the group. However, he accepted that the business aviation market would remain weak for some time as it endures weak demand and a glut of aircraft. The company is focusing on slower, but less fuel-hungry, basic piston-powered and faster turbo-prop aircraft. These are cheaper than their jet counterparts and can land almost anywhere. Beechcraft has been building three of its flagship King Air turboprops a week since it emerged from bankruptcy, Mr Boisture said. Among the biggest buyers of the aircraft were mining and other natural resource companies, which need aircraft that are capable of landing in remote areas with poorly-equipped airfields. (Source: FT.com)
14 Aug 13. Textron Systems, a unit of Textron Inc (TXT), says strong
demand from the Middle East and Asia for unmanned systems, ground vehicles and smart weapons will help expand foreign sales to about half of the division’s total revenues in coming years. Ellen Lord, president and chief executive officer of Textron Systems, said international sales had