Archive: Business/Financial

Raytheon Beats ATK For $232 Million Army 120mm MRM Contract

By Geoff Fein The Army last month awarded Raytheon [RTN] Missile Systems a $232 million contract for the 120mm medium range munitions (MRM) program over a competing bid from ATK [ATK]. Raytheon, along with its teammate General Dynamics [GD], will build the gun-fired smart munition, which has a dual mode beyond line of sight capability, […]

Defense Watch Content

The Latest Word On Trends And Developments In Aerospace And Defense Campaign Report. An overflow crowd at BAE Systems in Nashua, N.H., turned out last week to listen to Sen. John McCain (R-Ariz.), fresh from a solid finish in the Iowa caucuses, said Clark Dumont, vice president of communications for BAE’s Electronics & Integrated Solutions […]

Army Awards $221.2 Million Contract To Expand Redstone Arsenal

The Army awarded a $221.2 million contract to expand the Von Braun Complex in Redstone Arsenal at Huntsville, Ala., the Missile Defense Agency (MDA) said last week. That will mean constructing a roughly 840,000 square foot building to house 2,248 MDA employees, people who now work in or near Washington, D.C. They are moving to […]

Accenture Complete Acquisition of Defense Consulting Firm Gestalt

Accenture [ACN] yesterday said it has completed its acquisition of Gestalt, LLC, a New Jersey-based consulting firm that provides mission support services to the Defense Department. Terms of the deal were not disclosed. Gestalt has about 250 employees. Gestalt’s services help defense organizations achieve systems interoperability and collaboration, allowing information from separate military branches to […]

Northrop Grumman, Boeing Submit Final Bids In Tanker Competition

By Jen DiMascio The Air Force’s tanker competition comes down to the wire as Boeing [BA] and Northrop Grumman [NOC] yesterday submitted their final bids for the service’s top acquisition priority this year. At stake is a contract worth up to $40 billion for up to 179 aircraft over the next 15 years. The spoils […]

BAE SYSTEMS Acquiring Services Provider MTC Technologies

Britain’s BAE SYSTEMS last month said it has agreed to acquire MTC Technologies, Inc., [MTCT] in a $450 million deal that gives it access to new customers in the Defense Department for technical solutions and services. BAE will pay $24 in cash for each share of MTC’s common stock and assume net debt of $81 […]

Northrop Grumman Ship Systems Launches USS

The future USS New York (LPD-21), the fifth ship of the San Antonio-class of amphibious ships, was launched last month from Northrop Grumman [NOC] Ship Systems in Avondale, La., the company said. Throughout 2008, Northrop Grumman will continue to complete this 684-foot-long warship. Key milestones such as electrical generator, combat systems, and main engine light-offs […]

Lockheed Martin Acquires PercepTek

Lockheed Martin [LMT] last month said it has acquired PercepTek, Inc., a developer of autonomous software technologies used in navigation for unmanned ground vehicles and aircraft systems, and automated persistent surveillance for security applications. Terms of the deal were not disclosed. Lockheed Martin said the acquisition will not be material to its financial results. "Lockheed […]

ITT Completes Purchase of EDO

ITT Corp. [ITT] last month 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 […]

BAE SYSTEMS Acquiring Services Provider MTC Technologies

Britain’s BAE SYSTEMS last month said it has agreed to acquire MTC Technologies, Inc., [MTCT] in a $450 million deal that gives it access to new customers in the Defense Department for technical solutions and services. BAE will pay $24 in cash for each share of MTC’s common stock and assume net debt of $81 […]