Sunshine Avionics acquires exclusive license for Boeing 777 AIMS & 737NG lines

HEICO Corporation (HEI) announced its Sunshine Avionics subsidiary entered into an exclusive license agreement and acquired key assets for the Boeing (BA) 777 AIMS and Boeing 737NG/P-8/E-7 VIA product lines from Honeywell (HON). The transaction was structured as an exclusive perpetual license and asset purchase. Sunshine Avionics is part of HEICO’s Flight Support Group. Transaction terms and financial details were not disclosed. HEICO stated that it expects the license and asset acquisition to be accretive to its earnings in the year following closing. Honeywell’s AIMS, the mission control of the Boeing 777, is an integrated modular avionics system that hosts cockpit integration technology, including primary flight-deck displays and maintenance diagnostics. The VIA is an integrated avionics system of the Boeing 737NG/P-8/E-7 for the flat panel display electronics and software, as well as flight management functions. Since the Boeing 737NG and 777’s launch, Honeywell has been the OEM for both the AIMS and VIA. These systems form the hardware foundation of cockpit avionics, ensuring the safety and efficiency of critical functions with redundancy and fault-tolerance. The transaction provides Sunshine Avionics with all rights to produce, sell, and repair Boeing 777 AIMS and Boeing 737NG/P-8/E-7 VIA hardware systems. Sunshine Avionics is now solely responsible for the hardware-related activities formerly performed by Honeywell and will conduct its engineering, production and customer support functions from Sunshine Avionics’ Miramar, FL facilities.