Rolls-Royce, a British multinational engineering company, agreed to acquire the Electric Aircraft business of Siemens, a German multinational conglomerate company. Financial terms were not disclosed. Rob Watson, Director - Rolls-Royce Electrical, said: "Electrification is set to have as dramatic an impact on aviation as the replacement of piston engines by gas turbines. We are at the dawn of the third era of aviation, which will bring a new class of quieter and cleaner air transport to the skies. We have already made significant strides in realising our strategy of 'championing electrification' and this move will accelerate our ambitions in aerospace by adding vital skills and technology to our portfolio. It brings us increased scale and additional expertise as we develop a product range of hybrid power and propulsion systems. I look forward to welcoming our new colleagues into Rolls-Royce and working with them to pioneer new technologies and solutions."