Archive: Business/Financial

Raytheon Gets Small Radiation Detection Award

The Domestic Nuclear Detection Office (DNDO) has awarded Raytheon [RTN] a $2.9 million, six-month contract to begin developing a Stand-Off Radiation Detection System (SORDS), marking the second award for the company in the area of radiation detection systems. In 2006 Raytheon was one of three companies selected by DNDO, which is a branch of the […]

Lockheed Martin To Provide AN/TPS-77 Radar To Latvia

Lockheed Martin [LMT] recently said it received a contract valued at $44 million from the Latvian National Armed Forces for two long-range AN/TPS-77 transportable air surveillance radar systems and options for long-term technical support. The contract included priced options for up to four additional TPS-77 radars for Estonia and Lithuania. In 2003, Lockheed Martin delivered […]

Boeing Signs 10 Year MoU With Hindustan Aeronautics Ltd.

Boeing [BA] and India’s Hindustan Aeronautics Limited (HAL) announced Dec. 20 signing a 10-year Memorandum of Understanding (MOU) intended to bring more than $1 billion of new aerospace manufacturing work to India. The agreement, signed in New Delhi by Jim Albaugh, president and CEO of Boeing Integrated Defense Systems, and Ashok Baweja, chairman of HAL, […]

BAE SYSTEMS Selling Electronic Warfare Unit To Cobham

BAE SYSTEMS yesterday 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 […]

Schwartz: Expanded Global Infrastructure Needed For North-To-South Transport

The U.S. military’s global transport network needs to grow from it’s current east-west orientation to a more robust en-route infrastructure that can move personnel and material more readily north to south as well, including into regions of growing interest such as Africa, the general overseeing this network said recently. "The truth is that our network […]

New iRobot PackBot Unveils New Mapping Kit Payload

iRobot [IRBT] has announced a new Mapping Kit payload for its combat-proven PackBot that will help warfighters manage search, surveillance and reconnaissance, according to officials. "PackBot with Mapping Kit utilizes new technology that directly addresses the needs of modern warfighters and other first responders to safely gather crucial environmental intelligence without having to enter hazardous […]

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 […]