BELLEVUE, Wash. - Esterline has agreed to acquire the aerospace and defense display businesses of Barco N.V. These operations design and manufacture high-technology, harsh-environment displays and visualization solutions, holding established positions in Avionics, Defense, Air Traffic Control, and Training and Simulation markets.

The transaction is expected to close in December or January, contingent upon Hart-Scott-Rodino approval, completion of French employee protective rights procedures, and other customary closing conditions. The acquisition purchase price of EUR150 million (approximately $200 million), will be funded primarily by international cash reserves.

The acquisition is a strategic bolt-on for Esterline; upon closing, the acquired operations will be integrated into Esterline's Avionics & Controls business segment. The addition of Barco's visual processing solutions is expected to enhance Esterline's position as a supplier of human-machine interface products primarily for aerospace customers in both commercial and defense markets. With annual revenues of approximately $200 million, this acquisition will significantly expand Esterline's existing business in the display category.

Curtis Reusser, Esterline's Chief Executive Officer, said, "This acquisition will rapidly expand our global display capability, and better position the company across a wide range of growing end markets. The immediate and cost-effective expansion of Esterline's visual display business -- an important core technology -- will reinforce our ability to pursue opportunities with a variety of customers."

Source: esterline.com