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Business/Financial

Private Equity Firm Completes Purchase of GTEC

DDN

Tuesday, April 5th, 2011

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Global Defense Technology & Systems yesterday said that the private equity firm Ares Management LLC completed the tender offer for its common stock, the last hurdle before closing the acquisition. GTEC said last month that Ares would buy it for $315 million (Defense Daily, March 7). GTEC is a provider of software and information technology services and solutions to the federal government. Its customers include the Defense and Homeland Security Departments, the intelligence community, federal law enforcement agencies and other…

Congress

House Appropriators ‘Concerned’ With JLTV A2 Delays, Shift Funds For Marines’ Second Supplier Effort

House appropriators have said they’re “seriously concerned” with Joint Light Tactical Vehicle (JLTV) A2 delays, as their fiscal year 2027 defense spending bill shifts funds to support the Marine Corps’ […]

Budget

House Appropriators Uncertain Navy Will Award F/A-XX Contract By August

House appropriators said they are skeptical the Defense Department will award the engineering and manufacturing development (EMD) contract for the Navy’s F/A-XX next-generation carrier-based fighter program by the most recent […]

Congress

House Appropriators Approve $1.07 Trillion FY ‘27 Defense Bill Amid Reconciliation Uncertainty

The House Appropriations Committee has approved its $1.07 trillion fiscal year 2027 defense spending bill, advancing a bill with a historic topline while uncertainty lingers over Congress’ next step to […]

Budget

House Appropriators Add Restrictions And Reporting Requirement To Battleship, Reject Cut

The chairman’s mark of the House Appropriations Committee’s (HAC) fiscal year 2027 defense appropriations bill funds the administration’s $1 billion request for the BBG(X) Trump-class battleship, but adds restrictions requiring […]