Archive: Business/Financial

Navy Awards GD $5 Billion To Complete Design Of New Ballistic Missile Sub

The Navy on Thursday awarded the submarine building division of General Dynamics [GD] a $5.1 billion contract to complete design work on the Columbia-class ballistic missile submarines. The detailed design award, which includes $175.1 million in initial funding, is for the Integrated Product and Process Development and additional work, including “component and technology development, missile […]

Bell Helicopter V-280 Valor prototype readying for first ground run in Amarillo, Texas. (Photo by Bell Helicopter)

Rotor Air Producers Seek Faster Acquisition Cycle, See Increasing Automation

NATIONAL HARBOR, Md. – Officials from three top rotary aircraft producers said that the acquisition cycle can and should be made shorter to keep up with technological needs, adding that they see increased automation augmenting capabilities in the future. Steve Mathias, vice president of global military business development at Bell Helicopter Textron [TXT] said at […]

Defense Secretary Jim Mattis testifies before the Senate Armed Services Committee June 13. (DoD photo)

Mattis Prods DoD To Talk More With Industry

NATIONAL HARBOR, Md. — Defense Secretary Jim Mattis encouraged the Department of Defense Sept. 20 to expand its communication with industry to increase the military’s access to new technology. Mattis said that parts of DoD have become overly cautious in their dealings with private firms because they fear violating ethics rules designed to avoid favoritism. […]

Lockheed Martin's family of solutions—all now featuring common components—include four series of satellites from nanosatellites to powerful geostationary platforms. (PRNewsfoto/Lockheed Martin)

Lockheed Martin Launches New Satellite Bus Family In Response To Customer Needs

NATIONAL HARBOR, Md.–Responding to customer demands for more affordable, flexible and responsive products, Lockheed Martin [LMT] on Tuesday introduced a new family of satellite busses with hundreds of common features able to carry payloads weighing from 22 pounds to more than 5,000 pounds for commercial, civil and military missions. The company invested $300 million over […]

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ManTech To Acquire Federal IT Solutions Provider InfoZen

ManTech International [MANT] on Monday said it has agreed to acquire InfoZen for $180 million in cash in a deal that expands customer base with the Department of Homeland Security (DHS) with information technology (IT) solutions. ManTech said it will fund the deal with cash on hand and from its existing credit line. The acquisition […]

Northrop Grumman Chairman, President and CEO Wes Bush. Photo: Northrop Grumman

Bush Touts Improved Affordability, Enhanced Competitiveness As Drivers In Orbital ATK Deal

Northrop Grumman’s [NOC] proposed $7.8 billion acquisition of Orbital ATK [OA] will drive improved affordability for its customers, strengthen its competitiveness in a number of areas such as space and missile defense systems, and help spur innovation, Wes Bush, Northrop Grumman’s chairman, president and CEO, said Monday on an investor call. Bush said that the […]

Diagram of Ocean Aero's Submaran unmanned underwater and surface vessel . (Diagram: Ocean Aero.)

Lockheed Martin Investing In Ocean Aero, Developer Of Unmanned Sea Vessel

Lockheed Martin [LMT] said Friday its venture unit is making a “strategic investment” in unmanned maritime vehicle developer Ocean Aero as its second significant investor. Terms of the investment were not disclosed. San Diego-based Ocean Aero develops autonomous, persistent, energy scavenging, solar/wind-powered vessels. It is known for developing the Submaran unmanned underwater (UUV) and surface vessel for […]

L3 Doss' U.S. Air Force Initial Flight Training facility in Pueblo, Colo. Photo: L3

L3 Bolsters Flight Training Business With Doss Aviation Acquisition

L3 Technologies [LLL] on Sept. 14 said it acquired Doss Aviation, Inc., in a deal that bolts on the only supplier of initial flight training to Air Force pilots. Terms of the deal were not disclosed. Colorado-based Doss has about 450 employees and L3 expects the new business unit to add about $50 million in […]

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Leidos Takes DHS Secure Data Network Contract From Northrop Grumman

Leidos [LDOS] on Tuesday won a potential $684 million contract from the General Services Administration (GSA) to support the Department of Homeland Security’s secure data network used to share classified information across government agencies involved in homeland security missions. Leidos unseated Northrop Grumman [NOC], which won a contract in 2004 to develop and implement the […]