CEDAR RAPIDS, Iowa (AP) — Communication and aviation electronics manufacturer Rockwell Collins Inc. said today it acquired a privately held engineering and products company that provides intelligence, surveillance, reconnaissance and communications products to the U.S. government.
Rockwell Collins said it will acquire all outstanding shares of Reston, Va.-based Information Technology and Applications Corp. for $38 million.
Approximately 80 ITAC employees will join Rockwell Collins. The acquisition will not affect Rockwell Collins' earnings for the fiscal years ending Sept. 30, 2007, and 2008, the company said.
''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 CEO Clay Jones.
ITAC's founder and CEO James Scrivener said joining forces with Rockwell Collins will allow his company to ''provide actionable intelligence information to warfighters — when they need it, anywhere in the world.''
Founded in 1986, ITAC's focus is the development of near real-time intelligence and other mission-critical information. Its business areas include geospatial intelligence, communications intelligence, field terminal systems and satellite systems engineering support.
Cedar Rapids-based Rockwell Collins develops and deploys communication and aviation electronics equipment for both commercial and government applications. The company has 20,000 employees in 27 countries.