Wabtec Acquires Collins Aerospace's ARINC Rail Solutions Business - RTX (NYSE:RTX), Westinghouse Air Brake (NYSE:WAB)

Westinghouse Air Brake Technologies Corp WAB (Wabtec) has acquired Raytheon Technologies Corp's 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.