Acterna Signs Definitive Agreement to Sell Airshow to Rockwell Collins.Business Editors/Hi-Tech Writers GERMANTOWN, Md.--(BUSINESS WIRE)--June 14, 2002 Acterna Corporation (Nasdaq:ACTR ACTR American Council of Teachers of Russian ACTR Actuator ACTR Association for Canadian Theatre Research ACTR A Christmas To Remember ACTR Assistant Contract Technical Representative (NMCI liaison) ) today announced that it has signed a definitive agreement to sell its Airshow business to Rockwell Collins Rockwell Collins, Inc. (NYSE: COL) is a large United States-based international company headquartered in Cedar Rapids, Iowa, primarily providing aviation and information technology systems, solutions, and services to governmental agencies and aircraft manufacturers. for $160 million in cash. Airshow is a leading provider of cabin management and passenger information systems to both the business aviation and airline markets. "Airshow and Rockwell Collins are strategically aligned and offer a complementary set of products and services to the aviation industry," said Ned Lautenbach, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Acterna Corporation. "We are pleased with an agreement that will fuel new growth opportunities for Airshow and its talented group of employees and provide Acterna with increased financial flexibility." "This is an exciting opportunity for Airshow to be part of a company that has a long and successful history in all of our key market segments," said Dennis Ferguson Dennis Ferguson may refer to
The agreement is subject to customary regulatory approvals and consent of Acterna's lenders. About Acterna Corporation Based in Germantown, Maryland, Acterna Corporation is the holding company for Acterna, Airshow, da Vinci da Vinci Surgery A surgical robot for performing certain surgeries–eg, mitral valve repair and laparoscopic procedures–eg, cholecystectomy and gastric ulcer repair. See Laparoscopic surgery, Robotics, Surgical robot. Systems and Itronix. Acterna is the world's second largest communications test and management company. The company offers instruments, systems, software and services used by service providers, equipment manufacturers and enterprise users to test and optimize performance of their optical transport, access, cable, data/IP and wireless networks and services. Airshow supplies in-flight passenger information systems to the aviation industry while da Vinci Systems designs and markets video color correction Altering the colors in an image in order to print or display it properly or for special effects. Depending on the application, color correction can be a significant problem if the resulting image must be approved or a purchase is made because of color choice. systems to the video postproduction industry. Itronix sells ruggedized computing devices for field service applications to a range of industries. Additional information on Acterna is available at http://www.acterna.com. About Airshow Airshow is a market leader in advanced cabin systems with products in service on nearly 4,000 business aircraft, and on more than 3,500 aircraft operated by over 130 airlines worldwide. Airshow, headquartered in Tustin, California Tustin is a city in Orange County, California, United States. As of the 2006 census, the city had a total population of 70,871. The city is located next to the county seat, Santa Ana, and does not include the Tustin Foothills. is the leading provider of moving map displays A display in which a symbol, representing the vehicle, remains stationary while the map or chart image moves beneath the symbol so that the display simulates the horizontal movement of the vehicle in which it is installed. , real-time information services See Information Systems. and airborne TV for passengers, pilots and cabin crews. Additional information on Airshow is available at www.airshowinc.com. About Rockwell Collins Rockwell Collins is a world leader in the design, production and support of communications and aviation electronics solutions for government and commercial customers worldwide. Additional information is available at www.rockwellcollins.com. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements reflect the company's current judgment on the matters addressed by these statements. However, because such statements apply to future events, they are subject to risks and uncertainties that could cause the actual events and the company's results to differ materially. Important factors that could cause actual events and the company's results to differ materially are described in the company's reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and 10-Q on file with the Securities and Exchange Commission. |
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