Collins Aerospace to acquire FlightAware

Rhea-AI Summary

On August 30, 2021, Collins Aerospace, a division of Raytheon Technologies (RTX), announced its plan to acquire FlightAware, a leader in digital aviation and flight tracking solutions. The acquisition will place FlightAware under Collins' Information Management Services within its Avionics business unit. While the financial details remain undisclosed, the deal aims to enhance global connectivity and innovation in aviation efficiency. FlightAware, known for its extensive flight data analytics, will help Collins unlock new capabilities for its customers.

Positive

• Acquisition of FlightAware strengthens Collins Aerospace's portfolio in digital aviation and flight tracking.
• Enhances global connectivity and efficiency in aviation operations.
• Potential for increased innovation and new capabilities across Collins' business with FlightAware's extensive analytics.

Negative

• None.

CEDAR RAPIDS, Iowa, Aug. 30, 2021 /PRNewswire/ -- Collins Aerospace, a Raytheon Technologies business (NYSE: RTX), has signed a definitive agreement to acquire privately held FlightAware, a leading digital aviation company providing global flight tracking solutions, predictive technology, analytics and decision-making tools.

Closure of the acquisition is subject to the completion of customary conditions and regulatory approvals. Following closing, FlightAware will join Collins' Information Management Services portfolio within the company's Avionics strategic business unit. Financial terms of the agreement were not disclosed.

"Global connectivity now shapes and impacts every segment of aviation. FlightAware is the recognized leader in data collection, analytics and customer experience, which will help Collins unlock the full power of the connected ecosystem for our customers," said Dave Nieuwsma, Collins Aerospace's head of Avionics. "FlightAware's flight tracking and data platform, the largest in the world, has the potential to deliver new capabilities and innovations across our entire business."

"The world's aerospace companies and aircraft operators are looking to digital aviation to provide the next revolution in aviation efficiency and reliability," said Daniel Baker, CEO of FlightAware, "and we are excited to join Collins Aerospace and Raytheon Technologies at this pivotal time to continue to lead that revolution at an even broader scale." 

About FlightAware 
Based in Houston, Texas, with approximately 130 employees, FlightAware was founded in 2005 and is a leading provider of real-time and historical flight information and insights to the global aviation community. FlightAware serves all segments of the aviation marketplace through best-in-class applications and data services that provide comprehensive information about the current and predicted movement of aircraft. Through the collection, interpretation, and enrichment of hundreds of sources of data, including data from FlightAware's own proprietary terrestrial ADS-B network with tens of thousands of receivers spanning seven continents in 200 countries and territories, FlightAware transforms millions of raw flight data elements and delivers them as coherent, easy-to-consume flight stories. As a single source of accurate and actionable data for aviation players large and small, FlightAware is Central to Aviation™. 

About Collins Aerospace 
Collins Aerospace, a unit of Raytheon Technologies Corp., is a leader in technologically advanced and intelligent solutions for the global aerospace and defense industry. Collins Aerospace has the extensive capabilities, comprehensive portfolio and broad expertise to solve customers' toughest challenges and to meet the demands of a rapidly evolving global market. For more information, visit CollinsAerospace.com.

About Raytheon Technologies
Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With four industry-leading businesses ― Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense ― the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.

Cautionary Statement Regarding Forward-Looking Statements
This release contains forward-looking statements, including information regarding the acquisition, its prospects, and the anticipated timing of closing of the transaction. These forward-looking statements are not statements of historical facts and represent only the Company's current expectations regarding such matters.  These statements inherently involve a wide range of known and unknown risks and uncertainties.

View original content to download multimedia:https://www.prnewswire.com/news-releases/collins-aerospace-to-acquire-flightaware-301365349.html

SOURCE Raytheon Technologies

FAQ

What is the purpose of Collins Aerospace's acquisition of FlightAware?

The acquisition aims to enhance Collins' capabilities in digital aviation and improve global connectivity and efficiency.

When was the acquisition of FlightAware announced?

The acquisition was announced on August 30, 2021.

What will happen to FlightAware after the acquisition?

After the acquisition, FlightAware will be integrated into Collins Aerospace's Information Management Services within the Avionics business unit.

What are the financial terms of the FlightAware acquisition?

The financial terms of the agreement have not been disclosed.