Aerospace Group:

Business/Financial

L-3 To Add Explosive Trace Detection To Security Portfolio With Implant Deal

By Cal Biesecker

Tuesday, October 11th, 2016

SHARE:

L-3 To Add Explosive Trace Detection To Security Portfolio With Implant Deal

Implant Sciences' QS-B220 ETD. Photo: Implant Sciences

L-3 Communications [LLL] on Monday said it has agreed to acquire the explosive trace detection (ETD) business of Implant Sciences [IMSC] for $117.5 million in cash, a deal which would add a handsome new capability to its Security & Detection Systems division.L-3 will fund the acquisition through cash on hand. Deal terms include the assumption of certain liabilities.Implant on Monday entered Chapter 11 Bankruptcy protection and L-3’s asset purchase agreement is contingent to approval by the U.S. Bankruptcy Court, a…

Budd And Shaheen Bill Would Authorize 329 F-15EX Fighters

Two members of the Senate Armed Services Committee (SASC), Sen. Ted Budd (R-N.C.) and Sen. Jeanne Shaheen (D-N.H.), have introduced the Airpower Acceleration Act, which would authorize multi-year procurements of […]

Congress

HASC’s Wittman Sees ‘Challenging’ Push For $350B In Reconciliation Funds, Wants Sustained Defense Increase

NATIONAL HARBOR, Md.– Congress’ work to pass $350 billion in reconciliation funds to support the Trump administration’s push for a $1.5 trillion fiscal year 2027 defense topline is “going to […]

Army

Army Secretary Says “We Need To Over-Invest in FLRAA To Get It Online As Quickly As Possible”

Rep. Ken Calvert (R-Calif.), chairman of the House Appropriations Committee’s defense panel (HAC-D), said on Thursday that the Army’s budget plan beginning in fiscal 2027 has more than $2 billion […]

Congress

Pentagon Fiscal 2027 Budget To Address Cannibalization Of Parts For F-35, Legislator Says

The Pentagon’s upcoming fiscal 2027 budget request will help reduce the cannibalization of parts for the F-35 fighter by Lockheed Martin [LMT], the chairman of the House Armed Services Committee’s […]