TransDigm to buy proximity sensor maker Simmonds for $765 million

(Reuters) -Aerospace supplier TransDigm Group said on Monday it will acquire Simmonds Precision Products from defense contractor RTX Corp for about $765 million in cash.

Simmonds makes fuel and proximity sensing and structural health monitoring products for the aerospace and defense industry.

Cleveland, Ohio-based TransDigm supplies aircraft components such as cockpit security systems and engine sensors for commercial and military jets, and counts planemakers Boeing (NYSE:BA) and Airbus among its customers.

TransDigm said the deal is expected to be financed through existing cash on hand.

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