TransDigm to buy proximity sensor maker Simmonds for $765 million
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FILE PHOTO: U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -Aerospace supplier TransDigm Group said on Monday it will acquire Simmonds Precision Products from defense contractor RTX Corp for about $765 million in cash.
Simmonds makes fuel and proximity sensing and structural health monitoring products for the aerospace and defense industry.
Cleveland, Ohio-based TransDigm supplies aircraft components such as cockpit security systems and engine sensors for commercial and military jets, and counts planemakers Boeing and Airbus among its customers.
TransDigm said the deal is expected to be financed through existing cash on hand.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Leroy Leo)
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