To: WR who wrote (13853 ) 6/23/2000 8:50:00 PM From: WR Read Replies (1) | Respond to of 29987
Rockwell Collins Announces Intent to Acquire Sony Trans Com Purchase will Strengthen Rockwell Collins? Global Lead in In-flight Entertainment Solutions for its Customers CEDAR RAPIDS, Iowa (April 27, 2000) - Rockwell Collins, Inc., a business of Rockwell International Corporation (NYSE: ROK), announced that it is expanding its in-flight entertainment (IFE) capabilities by agreeing to acquire Sony Trans Com, which produces IFE systems for commercial aircraft. Rockwell Collins? Passenger Systems IFE business, located in Pomona, Calif., supplies in-flight entertainment systems to domestic and international airlines and aircraft manufacturers. The combined businesses are expected to generate revenues in excess of $500 million annually by 2001. ?This acquisition is a great fit for us,? said Clay Jones, Rockwell Collins? President. ?With the addition of Sony Trans Com, we can offer a full range of IFE solutions tailored to meet customers? specific requirements. We look forward to continuing the relationships with Sony Trans Com?s customers, providing them with the most comprehensive IFE capabilities as well as service support for their existing installations. ?Airlines and their customers are demanding increasing IFE capabilities,? Mr. Jones added. ?Our recently announced In Flight Network (IFN) joint venture with News Corporation enhances our ability to address customers? content requirements. We believe IFN will create a greater demand for IFE systems, which is a market we will have a better capability to serve.? Sony Trans Com, Inc., based in Irvine, Calif., is a subsidiary of Sony Corporation of America. It employs approximately 500 people in Irvine, with additional sales and service locations in Europe and the Far East. The transaction is subject to the customary regulatory approvals, and is expected to close later this year. Terms of the transaction were not disclosed. Rockwell Collins, with headquarters in Cedar Rapids, Iowa, designs, produces, markets and supports communication and aviation electronics for commercial, military and government customers. The business employs approximately 14,000 people worldwide.rockwell.com