Archive: Business/Financial

Textron Closes In On United Industrial Acquisition

Textron [TXT] said recently it has acquired 85 percent of the stock of United Industrial Corp. [UIC] as it nears the end of its $1.1 billion acquisition of the defense company. However, Textron said that about 1.6 million shares of UIC’s common stock that had been tendered through notices of guaranteed delivery were not delivered […]

Cross Match Drops Price of Planned IPO

Cross Match Technologies recently said it has lowered the expected price range of its forthcoming initial public offering (IPO), suggesting that net proceeds from the sale of stock could be about $23 million less than planned when the company refiled to go public last month. Under the amended filing with the Securities and Exchange Commission […]

Northrop Grumman, Raytheon Win Work On Next-Gen GPS Control Segment

The Air Force recently chose Northrop Grumman [NOC] and Raytheon [RTN] to conduct concurrent developmental work on a next- generation ground control segment for Global Positioning System (GPS) navigation satellites. Each company won phase A contracts worth about $160 million to reduce the risk in the design of the GPS Operational Control Segment (OCX) over […]

Microsoft Enters Simulation And Training Field, Announces Aerospace/Defense Partners

By Ann Roosevelt Microsoft [MSFT] is entering the growing simulation and training world with the announcement of strategic defense and aerospace industry partners that will work together developing new solutions for the military and commercial aviation industry. The partners include Northrop Grumman [NOC], SAIC [SAI], Lockheed Martin [LMT], CAE [CGT], Adacel and Acron Capability Engineering. […]

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 […]

Northrop Grumman, Raytheon Win Work On Next-Gen GPS Control Segment

The Air Force recently chose Northrop Grumman [NOC] and Raytheon [RTN] to conduct concurrent developmental work on a next- generation ground control segment for Global Positioning System (GPS) navigation satellites. Each company won phase A contracts worth about $160 million to reduce the risk in the design of the GPS Operational Control Segment (OCX) over […]

ManTech To Acquire IT Solutions Provider McDonald Bradley

ManTech International [MANT] recently said it has agreed to acquire McDonald Bradley, Inc. (MBI), an information technology (IT) solutions provider to the federal government, for $76.5 million in cash, giving it access to new customers and markets. MBI, which is based in Northern Virginia, expects to have over $50 million in sales this year. The […]

Textron Closes In On United Industrial Acquisition

Textron [TXT] said recently it has acquired 85 percent of the stock of United Industrial Corp. [UIC] as it nears the end of its $1.1 billion acquisition of the defense company. However, Textron said that about 1.6 million shares of UIC’s common stock that had been tendered through notices of guaranteed delivery were not delivered […]

Cross Match Drops Price of Planned IPO

Cross Match Technologies recently said it has lowered the expected price range of its forthcoming initial public offering (IPO), suggesting that net proceeds from the sale of stock could be about $23 million less than planned when the company refiled to go public last month. Under the amended filing with the Securities and Exchange Commission […]