Archive: Business/Financial

National Security Cutter James. Photo: Huntington Ingalls Industries

Huntington Ingalls Awards Lockheed Martin $72 Million For NSC C4ISR System

Lockheed Martin [LMT] on Wednesday said it has received a $72 million contract from shipbuilder Huntington Ingalls Industries [HII] to supply the C4ISR system for the eighth and final Coast Guard National Security Cutter (NSC). Under the contract, Lockheed Martin will deliver a command and control network, operations center consoles and bridge displays, the Airbus [...]

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DHS Awards HP $1 Billion For Data Center Services, Plans Similar Contract With CSC

The Department of Homeland Security on Tuesday awarded a potential $995.9 million contract to Hewlett Packard [HPQ] to continue providing services to its Data Center 2 while the department continues to work toward an Enterprise Computing Services (ECS) model of data center support. The department also said it shortly plans to award Computer Sciences Corp. [...]

CSC President and CEO Mike Lawrie will lead the new commercial company and be chairman of the government services business. Photo: CSC

Analyst Sees Pending CSC Split As Confirmation Of Trend In Defense Services Revamp

Computer Sciences Corp.’s [CSC] announcement last week that it plans to split into two separate publicly traded companies, one focused on commercial and global government customers and the other on the U.S. public sector, is consistent with expectations that the defense services sector is headed for a restructuring, according to defense analyst Byron Callan. “We [...]

Exelis President and CEO David F. Melcher. Photo: Exelis.

Harris Deal For Exelis Expected To Close Friday

Harris Corp.’s [HRS] $5 billion acquisition of Exelis Inc. [XLS] is expected to close May 29, now that regulators and Exelis shareholders have given the go-ahead, Exelis said on Friday. Exelis said that the Justice Department on Thursday terminated the waiting period for the merger under the Hart-Scott-Rodino Antitrust Act and in a special meeting [...]

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Elbit To Acquire NICE Systems’ Cyber And Intelligence Business

Elbit Systems [ESLT] on Thursday said it has agreed to acquire the Cyber and Intelligence Division of NICE Systems [NICE] for up to $157.9 million in cash in a deal that expands its cyber business. The transaction, which includes a potential $40 million earn-out provision as part of the overall cash payment, is expected to [...]

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NNSA Releases Sandia Sources Sought, Extends Lockheed Contract to April 2017

The long awaited procurement for the Sandia National Laboratories M&O procurement is scheduled to be awarded by April 2017, as the National Nuclear Security Administration (NNSA) released a sources sought notice Wednesday and announced it will extend by another year Lockheed Martin’s [LMT] contract to run the Lab. NNSA plans to conduct a full and [...]

Leidos Chairman and CEO Roger Krone. Photo: Leidos

Leidos To Accelerate Stock Repurchases

Leidos [LDOS] on Wednesday said it will conduct a $100 million accelerated stock repurchase with most of the shares to be bought in the near-term. The company said 80 percent of the shares will be delivered in the near-term, adding that the agreement is expected to be completed by August. The accelerated repurchase is part [...]

Northrop Grumman Chairman, President and CEO Wes Bush. Photo: Northrop Grumman

Northrop Grumman Boosts Dividend

Northrop Grumman [NOC] on Wednesday announced a 14 percent hike in its quarterly dividend to 80 cents per share, marking the 12th year in a row the company has boosted its common stock dividend. The dividend increase is payable June 17. The current dividend is 70 cents per share. The dividend increase is part of [...]

Incoming Leidos Health and Engineering Sector President Jonathan Scholl. Photo: Leidos

Leidos Taps Healthcare Pro To Run Its Health And Engineering Sector

Leidos [LDOS] on Tuesday named Jonathan Scholl as the president of its Health and Engineering Sector, which struggled last year with massive losses and contracting revenue. Scholl, who will join Leidos effective June 22, has served the last five as chief strategy officer of Texas Health Resources, a $3.8 billion faith-based, non-profit system of 24 [...]

iStock Cyber Lock

Fidelis Cybersecurity Acquires Endpoint Detection Firm To Complement Network Security

Fresh off its divestiture from General Dynamics [GD] earlier this month, Fidelis Cybersecurity on Tuesday said it has acquired endpoint detection and response solutions firm Resolution1 Security, complementing its network security platform to provide end-to-end cyber threat defense. Terms of the deal were not disclosed. Peter George, CEO of Fidelis, told Defense Daily that Resolution1 [...]