Rolls-Royce Buys Servowatch Systems for Undisclosed Sum -- Deal Digest
By Ian Walker
ACQUIRER: Rolls-Royce Holdings PLC.
SELLER: Larsen & Toubro Ltd.
TARGET: Servowatch Systems, a U.K-based company that supplies
integrated marine automation solutions for navies, commercial
vessels and large yachts.
PRICE: Commercial terms not disclosed.
STATUS: Contracts signed Tuesday.
RATIONALE: Servowatch will expand the ship-automation division
of the MTU product-and-solution brand of Rolls-Royce's
QUOTATION: "Servowatch is completely complementary to what we do
in marine automation," said Kevin Daffey, director of marine
systems & automation at Rolls-Royce's Power Systems business
Write to Ian Walker at firstname.lastname@example.org
(END) Dow Jones Newswires
December 02, 2020 07:18 ET (12:18 GMT)
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