Global aircraft components maker TransDigm Group has entered into a definitive agreement to buy Data Device (DDC) parent company ILC Holdings, for $1bn in cash.

A supplier of databus and power supply products for the global commercial, military, aerospace and space markets, DCC expects to record more than $200m in revenues for the fiscal year ending this December.

Around 25% of the company’s revenues are expected to come from the commercial transport market and the remaining will be generated from the defence market.

Nearly 70% of the revenue is received from the aftermarket, with almost all of the revenue from proprietary and sole source products, while nearly 45% is derived from non-US customers.

"The vast majority of DDC’s revenue comes from highly engineered, proprietary products with substantial aftermarket content."

The developer of the MIL-STD-1553 databus product line, DCC’s primary manufacturing facility is based in Bohemia, New York, US with additional facilities in Mexico, the UK, and California.

The company employs 650 people worldwide.

TransDigm Group provides various applications such as ignition systems and engine technology, specialised pumps and valves, power conditioning devices, cockpit security components and systems, specialised cockpit displays, aircraft audio systems and other systems for the aerospace industry.

Subject to regulatory approvals and customary closing conditions, the deal is expected to close before the end of the current fiscal year.

TransDigm chairman and CEO Nicholas Howley said: "DDC has a strong presence across major military aircraft platforms and a growing presence on commercial aircraft.

"This is another sizable acquisition opportunity that meets our strategic, operational and value-creation criteria.

"The vast majority of DDC’s revenue comes from highly engineered, proprietary products with substantial aftermarket content."

Last November, the company signed a definitive merger agreement to buy Breeze-Eastern, which designs, manufactures and supplies engineered aircraft components.