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 power-systems business.

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 unit.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

December 02, 2020 07:18 ET (12:18 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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