Esterline To Buy Display Businesses Of Barco N.V. For Nearly $200 Mln

(RTTNews) - Esterline Corp. (ESL), a specialty manufacturer serving primarily aerospace and defense markets, Monday said it will buy the aerospace and defense display businesses of Barco N.V. for nearly 150 million euros, or about $200 million. Excluding any integration expenses or other non-recurring costs, the acquisition is expected to be modestly accretive for the company in fiscal 2015. With annual revenues of nearly $200 million, this acquisition would significantly expand Esterline's existing business in the display category. Upon closing, the acquired operations will be integrated into Esterline's Avionics & Controls business segment. The transaction is expected to be complete in December or January and the company said the purchase amount will be funded primarily by international cash reserves.