Tag Archives: Technologies

United Technologies Will Buy Rockwell Collins for $30 Billion
September 5, 2017 12:43 am|Comments (0)

Jet-engine maker United Technologies Corp has agreed to would buy aircraft parts manufacturer Rockwell Collins Inc for $ 30 billion, including debt, the companies said.

Under the deal, Rockwell shareholders will receive $ 140 per share in stock and cash, split between $ 93.33 in cash and $ 46.67 in United Tech stock, the companies said in a statement.

The offer represents an 18 premium to Rockwell’s closing share price on Aug. 3, the day before media reported that UTC was weighing a bid for Rockwell.

Under the deal, the companies said that Rockwell Collins and UTC’s aerospace systems segment will be combined to create a new business unit named Collins Aerospace Systems.

“This acquisition adds tremendous capabilities to our aerospace businesses and strengthens our complementary offerings of technologically advanced aerospace systems,” UTC’s chairman and chief executive officer, Greg Hayes, said in the statement.

“Together, Rockwell Collins and UTC Aerospace Systems will enhance customer value in a rapidly evolving aerospace industry by making aircraft more intelligent and more connected,” he said.

The deal, which includes $ 7 billion in Rockwell’s debt, is expected to save more than $ 500 million by the fourth year after its completion, the companies said.

Morgan Stanley & Co LLC was the financial adviser to United Tech and Wachtell, Lipton, Rosen & Katz was its legal adviser.

J.P. Morgan Securities LLC and Citigroup Global Markets Inc were Rockwell’s financial advisers, while Skadden, Arps, Slate, Meagher & Flom was its legal adviser.

Reporting by Yashaswini Swamynathan in Bengaluru; editing by Leslie Adler.

Tech

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eMazzanti Technologies Grows Azure Cloud Business 60X in 12 Months
July 8, 2016 5:30 am|Comments (0)

“eMazzanti’s commitment to customers and their shift to cloud computing is strategic and absolute,” said Ervis Zeqo, Business Development Manager, …


Cloud Computing

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Gartner’s 10 Strategic Technologies For Government, 2016 Include Internet of Things, Smart Machines
July 3, 2016 7:40 pm|Comments (0)

Gartner forecasts 25B IoT-based installed devices by 2020, with 6.8B alone in smart cities. Smart machines will become a catalyst of Industrie 4.0 adoption across global governments. Spending by national, federal and local governments worldwide on technology products and services is forecast to grow from $ 430.1B in 2016 to $ 476.1B by 2020.


Cloud Computing

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Emerging technologies and the future of business
October 27, 2015 11:50 pm|Comments (0)

However, the proliferation of cloud computing has shone a spotlight on how technology is enabling companies to be more agile. When CIOs and …


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