Archive: Business/Financial

Aircraft infrared countermeasures products offered by Esterline's Wallop subsidiary. Photo: Esterline

Chemring Agrees To Acquire Countermeasures Assets From Esterline

Britain’s Chemring Group on Wednesday said it has agree to buy countermeasures assets from a United Kingdom-based subsidiary of Esterline Corp. [ESL] for $3.8 million plus a potential earnout provision worth up to $13.6 million. The deal is expected to close in early 2016 subject to U.K. regulatory approvals. Chemring is buying patents, equipment, stock [...]

Comtech To Acquire Wireless Communications Technology Company TCS

Comtech Telecommunications Corp. [CMTL] on Monday said it has agreed to acquire Telecommunication Systems, Inc. [TSYS] in a deal to expand its domestic and international offerings of C4ISR and next-generation emergency communications services. Comtech will pay $5 per TCS share for an enterprise value of $430.8 million. The two companies combined would have annual sales [...]

Navy P-8A Poseidon maritime surveillance aircraft. Photo. U.S. Navy

U.K. Announces $18 Billion Increase Defense Spending Through 2020

The United Kingdom on Monday announced plans to spend nearly $270 billion on military modernization and procurement over the next five years, including expansion of its navy and air force with new ships and aircraft creation of new infantry units and a doubling of investment in its special forces. Within the 98-page National Security Strategy [...]

Breeze-Eastern's 29900 rescue hoist designed specifically for search and rescue and combat search and rescue requirements. Photo: Breeze-Eastern.

TransDigm Group To Acquire Aircraft Lift Device Manufacturer Breeze-Eastern

TransDigm Group [TDG] on Thursday said has agreed to acquire aircraft lift device manufacturer Breeze-Eastern Corp. for $206 million, giving it proprietary products with aftermarket content. TransDigm expect to begin a cash tender offer for Breeze-Eastern’s shares by Dec. 3, although Breeze-Eastern and its financial advisers will continue to solicit superior proposals from third parties [...]

Raytheon Chairman and CEO Tom Kennedy. Photo: Raytheon

Raytheon Boosts Stock Repurchase Authority By $2 Billion

With its cash flow generation strong, Raytheon [RTN] on Wednesday said it has authorized the repurchase of up to an additional $2 billion of the company’s stock. In July the company outlined a $1 billion share repurchase target for 2015 and in October Tom Kennedy, Raytheon’s chairman and CEO, said the company was on track [...]

U.S. Secretary of Defense Ashton Carter. Photo: Pentagon

Future Force Initiative Seeks Civilian Tech Talent To Tackle DoD Shortfalls

Secretary of Defense Ashton Carter on Wednesday laid out a number of initiatives designed to make the Defense Department more competitive with private sector in recruiting and retaining young, technologically savvy employees. “We put a lot of effort into staying on the cutting edge with regards to weapon systems and it’s time we did the [...]

SQX-500 unmanned underwater vehicle being lowered into a test tank. Photo: Kraken Sonar

Kraken Sonar Acquires Marine Robotics

Kraken Sonar Inc. this week said it has acquired Marine Robotics Inc., strengthening its technology and intellectual property portfolio. Terms of the deal were not disclosed. The asset acquisition includes an operational twin-pod SQX-500 unmanned underwater vehicle, underwater technology and intellectual property. Most of Marine Robotics employees, which include senior electrical mechanical and software engineers, [...]

Lockheed Martin’s new Digital Array Row Transceiver (DART) radar technology. Photo:  Lockheed Martin.

Lockheed Martin Unveils DART Radar Technology

Lockheed Martin [LMT] publicly announced its newest radar technology on Tuesday, the Digital Array Row Transceiver (CART), based on Gallium Nitride (GaN) technology. The DART is a combined transmit and receive LRU with GaN T/R modules. Using the DaN technology, DART has a greater performance within current Lockheed Martin radar products and lowers lifecycle costs [...]

Homeland Security Secretary Jeh Johnson. Photo: DHS

DHS Achieves Clean Financial Opinion But IG Cites Deficient Internal Controls

For the third straight year the Department of Homeland Security (DHS) has achieved a clean financial audit but an independent auditor also identified a number of deficiencies in internal control, the department’s Office of Inspector General (IG) said in a new report. Homeland Security Secretary Jeh Johnson said in a statement on Tuesday that the [...]

Norway's first F-35A, called AM-1, is in production at the Lockheed Martin Fort Worth, Texas assembly plant.
Photo: Lockheed Martin.

As Defense Firms Consolidate, Pentagon Looks To Co-opt Commercial Tech

 The U.S. and international defense industries are undergoing a period of rapid and large-scale consolidation that could result in a handful of traditional contractors that build major weapon systems but leave technological development to a more populated and competitive commercial market. “There is a lot of consolidation happening on the platform side,” William Lynn, chief [...]