Archive: Business/Financial

BAE SYSTEMS Acquiring Swedish Training Firm

Britain’s BAE SYSTEMS yesterday said it is acquiring Pitch Technologies AB, a Swedish-based firm that specializes in training and simulation products and solutions, for about $9.8 million. BAE expects the deal to close in December. Pitch’s largest customers are the Swedish Ministry of Defence, NASA, the European Aeronautic Defence and Space Co., and France’s Thales. […]

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. […]

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 […]

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

By Michael Sirak The Air Force last week 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 […]

Textron Closes In On United Industrial Acquisition

Textron [TXT] said last week that 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 […]

Raytheon Gearing Up For ERGM Validation Tests In January

By Geoff Fein After months of layoff, Raytheon [RTN] will restart testing of its Extended Range Guided Munition (ERGM) early next year to demonstrate to the Navy the reliability of the round, a company official said. Additionally, in October, Raytheon signed a contract with the Navy for the ERGM completion program which will run through […]

Cubic Corp. Establishes Maritime Security Service Program

Cubic Corp. [CUB] said yesterday it has established a new business initiative to assist federal regulators and the international port and shipping community in achieving compliance with new seaport security laws. "Hundreds of ports around the globe are trying to meet the new United States standards by 2012, along with the International Ship and Port […]

ManTech To Acquire IT Solutions Provider McDonald Bradley

ManTech International [MANT] on Friday 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. […]

Accenture To Acquire Defense Consulting Firm MAXIM

Accenture [ACN] said yesterday that it has agreed to acquire MAXIM Systems, an engineering an technical services firm supporting the Defense Department. Terms of the deal, which is expected to close within 30 days, were not disclosed. San Diego, Calif.-based MAXIM has 135 employees. The company specializes in the design, development, installation and support of […]

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

By B.C. Kessner TEL AVIV, Israel–Elbit Systems [ESLT] on Wednesday 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 […]