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Benzinga
Benzinga
Business
Akanksha Bakshi

Wabtec Acquires Collins Aerospace's ARINC Rail Solutions Business

WAB Wabtec United States NYSE Canada
  • Westinghouse Air Brake Technologies Corp (NYSE:WAB) (Wabtec) has acquired Raytheon Technologies Corp's (NYSE:RTX) Collins Aerospace business segment ARINC rail solutions, a provider of intelligence-based rail dispatch and back-office solutions. Deal terms were not disclosed.
  • "ARINC's rail solutions systems, coupled with Wabtec's digital and electronics portfolio, will accelerate the industry's journey of rail optimization," commented Nalin Jain, President of Wabtec's Digital Electronics business.
  • ARINC's rail solutions business supports transit, regional, inter-city, commuter, subway, and light rail systems across the U.S. and Canada.
  • WAB held cash and equivalents of $488 million as of March 31, 2022.
  • Price Action: WAB shares are trading lower by 4.03% at $84.45 and RTX lower by 2.47% at $90.00 on the last check Thursday.
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