Rockwell Collins acquires ITAC to enhance communications intelligence capabilities

Cedar Rapids, Iowa —

Rockwell Collins, Inc. (NYSE: COL) has acquired Information Technology and Applications Corporation (ITAC), a privately-held engineering and products company that provides intelligence, surveillance, reconnaissance and communications solutions to support the global war on terror and homeland security.

“ITAC’s success in providing communications intelligence products and services to the Department of Defense and the national intelligence community complements our current offerings in this market segment,” said Rockwell Collins Chairman, President and CEO Clay Jones.

James Scrivener, ITAC’s founder, Chairman, President and CEO said, “The union, with the breadth and depth of Rockwell Collins’ communications technologies and global support capabilities, will allow ITAC to realize the true potential of its innovative products and technologies to provide actionable intelligence information to warfighters — when they need it, anywhere in the world.”

Pursuant to the terms of the agreement, Rockwell Collins will acquire all outstanding shares of ITAC in a cash transaction worth approximately $38 million. Approximately 80 ITAC employees will join Rockwell Collins. This acquisition will not materially affect Rockwell Collins’ earnings for the fiscal years ending September 30, 2007 and 2008.

Founded in 1986, ITAC’s focus is the development of cutting-edge capabilities for warfighters that facilitate access to and use of near real-time geospatial intelligence and other mission-critical information. Business areas include: Geospatial-Intelligence Information Systems; Communications Intelligence Information Systems; Intelligence Field Terminal Systems; and Satellite Systems Engineering Support Services.

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 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 ITAC into Rockwell Collins.

The original source of the article can be found here: http://www.rockwellcollins.com/news/page9373.html.

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