Smiths Aerospace bought for $4.8bn

announced today that it agreed to purchase

, a UK-based supplier of integrated systems for aircraft manufacturers and components for engine builders, for $4.8bn.

According to a statement, the acquisition will broaden GE’s offerings for aviation customers by adding Smiths flight management systems, electrical power management, mechanical actuation systems and airborne platform computing systems to GE Aviation’s commercial and military aircraft engines and related services.

“Smiths Aerospace is a world-class business and a great extension of our Aviation business,’ said GE Chairman and CEO Jeff Immelt. ‘Like GE, Smiths has built its business by investing in technology and innovative products and services. GE and Smiths fit together well because our product offerings are complementary, and because we have similar customers and deep domain expertise in this industry.

Smiths Aerospace, which is part of Smiths Group, has more than 11,000 employees and had $2.4bn in revenues in 2006. Smiths has a significant presence on most commercial aircraft, including the Boeing 737 and Airbus A320, as well as many military aircraft. Smiths also has a major presence on new aircraft such as the Boeing 787, Airbus A380 and the Joint Strike Fighter.