Rockwell Collins Sold In $30 Billion Deal
The largest employer in Cedar Rapids has been sold in what experts are calling the largest deal ever in aerospace. Connecticut based United Technologies Corp. announced late Monday that it is acquiring Rockwell Collins in a deal valued at $30 billion dollars.
The deal will combine two of the leaders in the aerospace industry. Rockwell makes avionics technology, like radars and a recently acquired company that makes airline seats. United Technologies makes airline parts, including engines. Once combined, Rockwell and a division of United Technologies will combine to form Collins Aerospace Systems.
What isn't clear right now is how the deal will affect employees at Rockwell's company headquarters in Cedar Rapids. Nearly 8,000 people are employed by the company in the city. The deal is expected to be finalized by the third quarter of 2018.