Rockwell Collins to Acquire Athena Technologies, Inc. to Strengthen UAV Capabilities
Athena Technologies, 10-year-old technology company which sells guidance control and navigation systems for unmanned aircraft, as agreed to be acquired by Rockwell Collins, a producer of aviation electronics.
Rockwell Collins, Inc. (NYSE: COL) today announced its intent to acquire Athena Technologies, Inc., a privately held company that develops and provides flight control and navigation solutions primarily to the Unmanned Aerial Vehicle (UAV) market segment. Terms of the agreement were not disclosed.
“Athena Technologies’ proven track record in creating leading navigation and control solutions for UAVs, combined with our existing capabilities, provides Rockwell Collins with exciting, new growth opportunities,” said Rockwell Collins Chairman, President and CEO Clay Jones. “We look forward to integrating our combined capabilities to bring new control solutions to both military and commercial market segments.”
David Vos, Athena Technologies’ founder and CEO, said, “This new relationship with Rockwell Collins provides an exciting and enabling platform to leverage Athena’s successful navigation and controls systems to play a leading role in the future convergence of manned and unmanned aviation. It is a tremendous honor to join the Rockwell Collins team and continue to pioneer future aviation solutions and technology.”
The transaction is expected to be completed in about 30 days and is subject to regulatory approvals. The acquisition is expected to be neutral to Rockwell Collins’ fiscal year 2008 earnings.
Athena Technologies is a premier developer and producer of navigation and control systems. Founded in 1998, the company produces the GuideStar® family of versatile, compact and cost-effective flight control systems for applications on commercial aircraft, UAVs, target drones and missiles. The company is an independent, privately held firm with headquarters in Northern Virginia. Additional information is available at http://www.athenati.com.
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 20,000 employees, and a global service and support network that crosses 27 countries. To find out more, please visit http://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 Athena Technologies into Rockwell Collins.