:

Business/Financial

Kratos Completes Sale Of Electronics Division Units To Ultra

By Cal Biesecker

Monday, August 24th, 2015

SHARE:

Kratos Completes Sale Of Electronics Division Units To Ultra

Some of the work that Kratos retains following the sale of a portion of its electronics business include beam forming modules shown above. Photo: Kratos

Kratos Defense & Security Systems [KTOS] on Monday said it has completed the sale of its United States and United Kingdom operations of its Electronic Products Division to Britain’s Ultra Electronics Holdings plc for $260 million in cash.Terms of the deal include upward of an additional $5 million in consideration for taxes incurred as part of the transaction.Following transaction costs and federal and state tax payments, Kratos said it expects $232.4 million in net proceeds from the deal, which was…

Congress

Senate’s CR Has Ship Construction Exemption, Forgoes White House’s Battleship, Munitions Requests

The Senate on Sunday released a bipartisan stopgap funding proposal to keep the government open through December 11, which would also secure additional funds to support ongoing shipbuilding efforts and […]

Congress

U.S. Fighter Fleet Will Expand By 2040 But More Stealth Aircraft Will Mean Less Availability, CBO Says

The number of fighter aircraft in the U.S. military inventory will decline over the next few years before expanding to a greater number than currently, but their availability for operational […]

Congress

White House Details ‘Concerns’ With Shipbuilding, Spaced-Based Interceptor Oversight In House’s NDAA

The White House has detailed “a number of concerns” with the newly-passed House version of the next defense policy bill, to include the legislation’s limits on procuring Navy ships built […]

Congress

House Narrowly Votes To Pass $1.15 Trillion FY ‘27 NDAA, Blueprint For Reconciliation 3.0

The House on Wednesday narrowly voted to pass its $1.15 trillion version of the fiscal year 2027 National Defense Authorization Act (NDAA) and a blueprint for a third reconciliation bill […]