Heico (HEI) said Tuesday its Sunshine Avionics unit acquired assets for the Boeing (BA) 777 Airplane Information Management System and Boeing 737NG/P-8/E-7 Versatile Integrated Avionics product lines from Honeywell International (HON) under an exclusive license deal.
Financial terms were not disclosed.
Heico said it anticipates the deal to be accretive to its earnings in the year after closing.
Sunshine Avionics now holds the rights to manufacture, sell, and repair the two hardware systems, and is solely responsible for all the hardware-related activities that were previously performed by Honeywell, Heico added.
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