Archive: Business/Financial

BAE SYSTEMS Selling Electronic Warfare Unit To Cobham

BAE SYSTEMS recently said it has agreed to sell its Pennsylvania-based Surveillance and Attack business to Cobham plc, for $240 million in cash as it de- emphasizes its role as a subsystem provider. The deal is expected to close in the first quarter of 2008. Both BAE and Cobham are headquartered in the United Kingdom […]

ITT Completes Purchase of EDO

ITT Corp. [ITT] yesterday completed its acquisition of EDO Corp. for $1.7 billion, which includes the assumption of debt, giving it a range of new aerospace and defense capabilities. The deal was expected to close early next year. EDO gives ITT new capabilities in counter-improvised explosive device systems and technology, weapons release systems, anti-submarine warfare, […]

Northrop Grumman, L-3 Partner On Navy’s EPX Solicitation

Northrop Grumman [NOC] has submitted a proposal with L-3 Communications [LLL] for the U.S. Navy’s EPX aircraft program that will provide a transformational, multi-intelligence capability delivering strike targeting information to the warfighter, Northrop Grumman said. The proposal was submitted in response to a broad agency announcement (BAA) issued in November that solicited bids to develop […]

United Kingdom Requests 170 MRAP Vehicles

The Defense Security Cooperation Agency (DSCA) Dec. 17 notified Congress of a possible $147 million Foreign Military Sale to the United Kingdom of Mine Resistant Ambush Protected (MRAP) vehicles as well as associated equipment and services. The United Kingdom has requested a possible sale of 170 Mine Resistant Ambush Protected (MRAP) Category II vehicles, tools […]

Switzerland To Spend $535 Million On F/A-18C/D Upgrades

Switzerland is looking to spend $535 million for the sale of "Upgrade 25 Program" equipment to enhance survivability and communications connectivity and to extend the useful life of 33 Swiss Air Force (SAF) F/A-18C/D aircraft, the Defense Security Cooperation Agency (DSCA) reported. This phase of the F/A-18C/D "Upgrade 25 Program" will include: 20 AN/ASQ-228A(V) Advanced […]

Senate Adds $4 Billion In Defense Procurement Funding To Omnibus Package

By Jen DiMascio The final version of the spending bill expected to be passed yesterday by the House of Representatives included $70 billion in funding for the war–about $6 billion of which was set aside for defense procurement. Senate Minority Leader Mitch McConnell (R-Ky.) said yesterday the bill will cover war spending until about April. […]

National Interest Security Company’s Acquisitions Enhance Intelligence Capabilities

The National Interest Security Company, LLC (NISC), controlled by DC Capital Partners LLC, announced the separate acquisitions of Athenyx and Information Manufacturing Corp. (IMC), moves expected to improve the company’s capabilities. NISC has completed acquisition of Columbia, Md.-based Athenyx, which provides expert level engineering and computer systems, support for the design, acquisition, development, integration, deployment, […]

Cross Match Takes Stake In Document Authentication Firm

Cross Match Technologies recently said it has acquired a minority stake in document authentication software developer AssureTec Systems to position itself to be able to offer more complete identity management solutions. Financial terms of the investment weren’t disclosed. Cross Match does get one seat on AssureTec’s four member board of directors. Cross Match’s main sales […]

Army Receives Approval For 95 More Stryker NBC Reconnaissance Vehicles

By Ann Roosevelt The Army has received the green light for more General Dynamics’ [GD] Stryker Nuclear Biological Chemical Reconnaissance Vehicles (NBCRV), adding state-of-the-art capability for the service and the joint force. "This month, after careful consideration, the Department of Defense gave the authorization for 95 more Stryker NBCRV bringing the current authorized total to […]

Leading Service Associations To Merge

The Professional Services Council (PSC) and the Contract Services Association of America (CSA), the two leading trade groups that lobby in support of companies that provide a range of base support, consulting, information technology and technical services to the federal government, will merge at the start of 2008. The combined entity will serve about 330 […]