Rockwell Collins Announces Agreement to Sell Kaiser Optical Systems to Endress+Hauser
Rockwell Collins, Inc. (NYSE: COL) announced today that it has reached a definitive agreement to sell its subsidiary, Kaiser Optical Systems, Inc., a leader in spectrographic instrumentation and applied holographic technology, to Endress+Hauser.
Terms of the agreement are undisclosed. The sale is expected to be completed in early fiscal 2014 and is subject to customary closing conditions.
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"This divestiture is part of an overall strategy to accelerate our focus on growth opportunities in our addressed markets,” said Rockwell Collins Chief Executive Officer and President Kelly Ortberg. "Kaiser Optical also benefits by joining an organization that concentrates on the primary industries it serves.”
Kaiser Optical Systems, located in Ann Arbor, Mich., became a Rockwell Collins company in 2000 as part of the company’s purchase of K Systems, Inc., the parent company of Kaiser Aerospace and Electronics. Principal products include Raman sensors and instrumentation, advanced holographic components for spectroscopy, telecommunications, astronomy and ultra-fast sciences, and components for aircraft display systems. These products and services are deployed in diverse applications that include defense, pharmaceutical and chemical manufacturing, nanotechnology, telecommunications and education.
“With the acquisition of Kaiser Optical Systems, we are expanding our range in the field of advanced analytics for liquids, gases and solids. In addition, we are strengthening our optical technology and manufacturing competence,” said Endress+Hauser Chief Executive Officer Klaus Endress, who emphasized the strategic dimension of the acquisition. “The Raman technology enlarges our offering for customers in core industries.”
Kaiser Optical Systems’ revenues are reported as part of Rockwell Collins Government Systems avionics business, and represent less than one percent of the company's total revenue.
Source : Rockwell Collins, Inc. - view original press release