Report: UTC Eyes Rockwell Collins Acquisition

United Technologies Corp. (NYSE: UTX) is exploring an acquisition of Cedar Rapids, Iowa-based avionics contractor Rockwell Collins (NYSE: COL) as the global industrial conglomerate looks to further expand its aerospace business, Bloomberg reported Saturday.

Sources familiar with the matter told Bloomberg it is yet unclear whether the two firms are in discussions over the deal.

The report said a potential transaction would allow UTC to integrate Rockwell Collins’ aircraft interiors and avionics equipment with its portfolio of aircraft components.

UTC CEO Greg Hayes announced in May that the Farmington, Connecticut-based conglomerate was on the prowl for acquisition opportunities in the $250 million to $1 billion range.

Rockwell Collins, which Bloomberg estimates has a market capitalization of $19.3 billion, wrapped up its $8.6 billion acquisition of airline cabin equipment provider B/E Aerospace in April.

UTC has a market cap of $97 billion and generates approximately 50 percent of its sales from Pratt & Whitney and other aviation divisions, the report added.

You may also be interested in...

William Conley CTO Mercury Systems

Mercury Systems’ William Conley Joins NDIA Central Georgia Chapter Board

William Conley, chief technology officer of Mercury Systems (Nasdaq: MRCY), has been named to the board of directors for the National Defense Industrial Association's Central Georgia chapter. He will serve as a board member for a term of up to six years, Mercury Systems said Thursday.

Cloud IT

DHS Posts $3B Data Center, Cloud Solicitation

The Department of Homeland Security has issued a request for proposals for its indefinite-delivery/indefinite-quantity Data Center and Cloud Optimization contract worth potentially $3.35B over 10 years.