Archive: Business/Financial

Contracts

New Spy Satellite System Planned, To Cost Billions: Report The Department of Defense (DOD) is expected to procure spy satellites that likely will be based on commercial-sat architecture, in a program costing $2 billion to $4 billion, the Associated Press reported. Called BASIC, the new system likely would be based on an existing commercial satellite […]

Encouraging Signs Set Performance Bar High For Lame Duck Acquisition Chief

By Jen DiMascio In about 14 months when a new president takes office, John Young, the newly confirmed under secretary of defense for acquisition, technology and logistics will in all likelihood be looking for another job. In the time he has left, Young is still looking to make changes to an acquisition system riddled with […]

iRobot’s New Multimission Warrior

By Ann Roosevelt iRobot [IRBT] is developing a new multimission modular robot called Warrior that can pull more of its weight in the soldier’s world and is expected to be ready in 2008. Helen Greiner, iRobot co-founder and chairman of the board, said Warrior can relieve soldiers of much of their burden–such as packs–because they […]

U.K. MoD Orders More Lockheed Martin Desert Hawk UAS

The United Kingdom’s Ministry of Defence awarded Lockheed Martin [LMT] a $4.8 million contract to procure additional Desert Hawk III Unmanned Aircraft Systems (UAS), the company said Nov. 28. With a $6.3 million award in April, the contracts are directed at increasing the capability of the British Army. The Desert Hawk III UAS consists of […]

ICGS Announces Progress On Second Security Cutter

Northrop Grumman [NOC] has successfully lifted the 25-ton mast onto the second Coast Guard National Security Cutter (NSC), putting the ship at 42 percent complete in the production process at the company’s shipyard in Pascagoula, Miss., Integrated Coast Guard Systems (ICGS) said Wednesday. The second NSC, called the U.S. Coast Guard Cutter Waesche (WMSL 751), […]

Elbit’s M&A Activities Bear Fruit, Contribute To Record Financial Results

TEL AVIV, Israel– Elbit Systems [ESLT] on recently reported its consolidated results for the third quarter ending Sept. 30 with the company’s president and CEO saying recent acquisitions helped generate record revenues, backlog and cash flow. "We are pleased to report another strong quarter of growth, which was based on organic revenue growth of 19 […]

Lockheed Martin Demonstrates Short-Range Capability For SPY-1 Radar

By Geoff Fein Lockheed Martin [LMT] successfully demonstrated a new Extreme Short Range (ESR) mode for its family of SPY-1 naval radars that will extend the coverage radius to support helicopter approach control, enhances small surface target detection and performance in the littorals, a company official said. Lockheed Martin had been considering the idea of […]

Raytheon Acquires Robotics Technologies From Sarcos

Raytheon [RTN] said recently it has acquired the robotics technologies and capabilities from Sarcos Inc., which does research and development in advanced robotics systems for industry and entertainment, medical devices, and mechanical and electrical microsystems. Terms of the deal were not disclosed. Sarcos, based in Salt Lake City, Utah, has 56 employees. Its customers include […]

Raytheon Gets Development Contract For Submarine Communications System

By Geoff Fein Raytheon RTN] has been awarded a $5.2 million contract to provide the Navy with a tactical paging system to improve submarine communications at speed and depth. Dubbed Deep Siren, the system uses a number of commercial-off-the-shelf components including Iridium satellite communications, an expendable buoy, and transmit-and-receive stations to enable a submarine to […]

General Dynamics Acquires Mediaware International Pty Ltd.

General Dynamics [GD] recently said it has acquired Mediaware International Pty Ltd.,a leading developer of real-time full-motion compressed digital video processing software and systems for defense, intelligence and commercial customers. Terms of the acquisition were not disclosed. The privately held Mediaware International, which has about 40 employees, will continue to be based in Sydney, Australia. […]