"Schweizer Aircraft is a great strategic fit for Sikorsky, providing us with proven leadership, a highly skilled and dedicated workforce, and immediate access to the light helicopter and UAV markets," said Sikorsky President Steve Finger.

"Their ability for rapid prototyping makes them an excellent choice for advanced concept evaluation and their high focus on product safety aligns well with Sikorsky's own."

"Our mutual strengths, combined competencies, and spectrum of aircraft and aftermarket services will create new opportunities for the employees of both organizations and creates value for our shareholders."

The leadership of both companies has approved the transaction. The deal is expected to close in the third quarter of this year. The terms of the acquisition were not disclosed. Schweizer will operate as a wholly owned subsidiary of Sikorsky.

"The purchase of Schweizer strengthens Sikorsky's capabilities in the UAV field, a key component in the Pentagon's System-of-Systems concept, which integrates surveillance, information, battle management and precision strike systems," Finger said.

"Adding light rotorcraft and fixed-wing reconnaissance product lines to its portfolio, will better position Sikorsky to compete in the fast-growing Homeland Security market as well."

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