Textron is buying Beechcraft for $1.4 billion.

Defense contractor Textron Inc. has announced plans to acquire Beech Holdings, LLC, the parent of Beechcraft Corporation, for $1.4 billion in cash.

Beechcraft is an aircraft manufacturer that produces business, special mission, light attack and trainer aircraft. The company’s King Air 350 turboprop aircraft was equipped with video and signals intelligence sensors to serve as the MC-12 Liberty aircraft which flew in Iraq and Afghanistan. The King Air 350 also formed the basis of the U.S. Army’s Enhanced Medium Altitude Reconnaissance and Surveillance System (EMARSS) project.

Read more at: http://www.c4isrnet.com/article/M5/20131230/C4ISRNET08/312300009/Textron-buy-Beechcraft-1-4-billion

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