Business & Tech
Parole-based ARINC Sold for $1.3B
An Annapolis aerospace technology firm, ARINC, was sold for $1.39 billion to Rockwell Collins.
The Parole-based ARINC, Inc., an aerospace technology firm, was sold to Rockwell Collins Inc. for $1.39 billion recently, The Baltimore Sun reports.
ARINC employs about 900 at its office on Admiral Cochrane Drive. The company specializes in aviation information management, and Rockwell Collins plans to fold those assets under its umbrella.
The Baltimore Sun reported that the fate of the company's 900 employees was not known. However, The Capital Gazette reported that the sale of the company would result in "very few, if any" job cuts.
ARINC provides services for engineering and communication systems used by the government and the defense industry.
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