Iowa-based Rockwell Collins buys Maryland company

CEDAR RAPIDS, Iowa (AP) — Cedar Rapids-based Rockwell Collins says it has reached an agreement to acquire an Annapolis, Md.-based company for $1.39 billion.

Rockwell Collins announced the deal Sunday evening to buy ARINC Incorporated.

The aviation and military electronics maker says the transaction will bring together two companies in the growing field of aviation information management.

ARINC focuses on networks and services, while Rockwell Collins works on avionics and cabin technology.

The announcement didn't include details about whether the agreement would lead to any immediate job losses.

The deal is subject to regulatory approval.