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Rockwell Collins to acquire simulation business from Evans & Sutherland
CEDAR RAPIDS, Iowa (February 08, 2006) - Rockwell Collins, Inc. (NYSE: COL), a global leader in aviation electronics and communications, has entered into a definitive
agreement to acquire the simulation assets of Evans & Sutherland, a leading provider of visual simulation solutions for military
and commercial customers.
The transaction is subject to customary closing conditions, including regulatory and Evans & Sutherland shareholder approval,
and is expected to close during the third quarter of Rockwell Collins' 2006 fiscal year (second calendar quarter). Pursuant
to the terms of the agreement, Rockwell Collins will acquire Evans & Sutherland's military and commercial simulation assets
and certain liabilities, including simulation facilities in Salt Lake City, Orlando and the United Kingdom, in a $71.5 million
cash transaction. As part of this transaction, Rockwell Collins will have exclusive rights to the Evans & Sutherland laser
projector for simulation. Approximately 200 Evans & Sutherland employees will join Rockwell Collins. Evans & Sutherland
will retain ownership of its planetarium and other laser projector market offerings and will continue to maintain its headquarters
in Salt Lake City. The acquisition will not materially affect Rockwell Collins' earnings for the fiscal year ending September
30, 2006.
"Simulation and training offers a significant growth opportunity for our company," said Rockwell Collins Chairman, President
and CEO Clay Jones. "The acquisition of these valuable assets from Evans & Sutherland will further enhance our simulation
and training capabilities and provide more robust solutions for our customers."
Evans & Sutherland produces professional hardware and software to create highly realistic visual images for simulation, training,
engineering, and other applications throughout the world. Evans & Sutherland visual systems are used in both military and
commercial systems, as well as planetariums and interactive theaters. Evans & Sutherland provides visualization solutions
for military mission rehearsal and command training, homeland security applications, advanced engineering design applications,
and domed theaters. Headquartered in Salt Lake City, Utah, the company employs approximately 275 professionals worldwide.
Rockwell Collins (NYSE: COL) is a worldwide leader in the design, production, and support of communication and aviation electronics
for commercial and government customers. The company's 17,000 employees in 27 countries deliver industry-leading communication,
navigation, surveillance, display, flight control, inflight entertainment, information management, and maintenance, training
and simulation solutions. Additional information is available at www.rockwellcollins.com.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements
as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected
as a result of certain risks and uncertainties, including but not limited to the risks inherent in the completion of any acquisition
that is subject to closing conditions, integration of Evans & Sutherland into Rockwell Collins, the development and market
acceptance of the products and services of the combined companies, demand for these products and related services, economic
and political changes in the domestic and international markets where Evans & Sutherland and Rockwell Collins compete, successful
deployment of advanced technologies, competitive product and pricing pressures as well as other risks and uncertainties, including
but not limited to those detailed from time to time in Rockwell Collins Securities and Exchange Commission filings.
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