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
12-02-20 0718ET