- 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.
