Archive: Business/Financial

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 […]

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. […]

U.S. Growth Drives QinetiQ’s First Half Results

Britain’s QinetiQ yesterday posted strong first-half results led by the company’s QinetiQ North America (QNA) division, which saw its revenues soar due to acquisitions and strong organic growth. Sales increased 19 percent to $1.3 billion for the six months ending Sept. 30 from $1.1 billion in the same period a year ago, with organic growth […]

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 […]

McDonald Bradley Awarded DIA IT Contract

McDonald Bradley has received a $3 million contract from the Defense Intelligence Agency (DIA) to design and develop a Web-based Force Protection Assessment system. The company said it will provide analytical design guidance as well as systems, software integration and development, and database engineering support to enable users to seamlessly search, analyze, and fuse knowledge […]

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 […]

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. […]

Raytheon Wins $1.3 Billion U.K. e-Borders Contract

Raytheon [RTN] recently was selected by the United Kingdom’s Home Office to receive a $1.3 billion contract to develop and install a border security system that will allow British authorities to check the background of persons entering and exiting the country against various watch lists. Raytheon beat British Telecom for the e-Borders contract. In two […]