Archive: Business/Financial

L-1 To Acquire Biometric Access Control Firm Bioscrypt

L-1 Identity Solutions [ID] recently said it as agreed to acquire Bioscrypt Inc., a Canadian-based firm specializing in biometric access control primarily for commercial customers, for about $44 million in a stock-for-stock transaction. The deal, which is expected to close early this year, would give L-1 a position in both the biometric physical and logical […]

Northrop Grumman Combining Shipbuilding Sectors

Northrop Grumman [NOC] this week said it will combine its two shipbuilding sectors, Newport News and Ship Systems, into a single operating sector effective Jan. 28. In addition, the company said it will separate its missiles business from its Mission Systems sector and realign it with its Space Technology sector beginning July 1. Mission Systems […]

Airbus Vows To Boost Business In Alabama If It Can Make Tankers There

By Jen DiMascio Airbus executives and Alabama politicians yesterday said that the company would produce commercial freighters in Mobile, as long as its parent, the European Aeronautic Defence and Space Co. (EADS),wins a contract from the U.S. Air Force to make aerial refueling tankers on the same production line. The announcement comes less than two […]

GD Beats L-1 To Produce State Department’s New Passport Card

By Calvin Biesecker The State Department yesterday awarded General Dynamics [GD] a potential $72.7 million contract to produce its new border travel document, the PASS Card, beating L-1 Identity Solutions [ID]. The win for GD continues a spate of recent homeland security-related awards for the company’s Information Technology business unit, which last week garnered a […]

Lockheed Martin Gains $40.4 Million Contract Change For Aegis Work On Japanese Ship

The Missile Defense Agency gave Lockheed Martin [LMT] a $40.4 million contract change to provide ballistic missile defense (BMD) capability to a Japanese Aegis-equipped destroyer, the JS Myoko, the company said yesterday. This would be the third of four Japanese Maritime Self Defense Force destroyers to receive the upgrade. The JS Kongo already has been […]

Northrop Grumman Gets $595 Million For Continued Work On CVN-78

The Navy Friday awarded Northrop Grumman [NOC] Newport News, Newport News a $595.9 million modification to previously awarded contract for the continuation of CVN-78 class design effort; long-lead time material procurement; and non-nuclear advance construction for the USS Gerald R. Ford lead ship of the class, according to the service. The contract includes system development, […]

MTC, Marine Corps Cancel Tier II UAS Concept Demonstrator

By Geoff Fein MTC Technologies [MTCT] will return $683,000 in performance-based payments and pay $474,000 in program costs to the Marine Corps after entering into a cancellation agreement relating to the company’s Tier II Unmanned Aircraft System (UAS) concept demonstration program, the company said last week. "Marine Corps Systems Command and MTC Technologies cancelled their […]

BAE Increases Contribution To S&T Education Group

By Calvin Biesecker BAE Systems said on Friday it will be tripling its annual contribution to a non-profit group that aims to inspire school children to be science and technology leaders. United Kingdom-based BAE will become the largest corporate contributor and a strategic partner of First (For Inspiration and Recognition of Science and Technology) by […]

Lockheed Martin GMLRS, HIMARS Programs Honored

By Ann Roosevelt Lockheed Martin’s [LMT] Guided Multiple Launch Rocket System (GMLRS) and High Mobility Artillery Rocket System (HIMARS) programs and the Army are the recipients of the William J. Perry Award for Precision Strike for outstanding combat effectiveness, as well as the programs’ recent in-theater performance and paths forward. "We are very humbled by […]

U.K. Spending $1 Billion For 10 Reaper UAVs

The United Kingdom is looking to spend upward of $1.07 billion for the sale of 10 General Atomics Aeronautical Systems (GA-ASI)-built Reaper Unmanned Aerial Vehicle (UAV) aircraft as well as associated equipment and services, the Defense Security Cooperation Agency (DSCA) reported recently. In addition to the 10 MQ-9 UAVs, the United Kingdom is seeking five […]