The DoD has announced that it is working to increase and broaden U.S. military relationships with India, Vietnam, and other Asia-Pacific countries, “transitioning [U.S.] defense trade beyond the ‘buyer-seller’ relationship to substantial co-production and, eventually high-technology joint research and development.” According to U.S. Defense Secretary Leon Panetta, up until now, export restrictions and controls regarding such practices have made these types of relationships near impossible.
However, since the release of the new U.S. military strategy in January, the Pentagon has been in the process of creating a new approach that will speed up foreign government requests and favor building defense capabilities of other nations. Notably, India is working to create joint development projects with the U.S. in the fields of weapons and equipment, with the ultimate goal of technology being transferred to India in an effort to help develop its domestic defense industry. Over the past decade, the U.S. has sold more than $8 billion in defense articles to India.
Orbital Sciences Corp. (Up 11.1%) – Shares traded upward this week after an announcement that the Company’s PegasusR Rocket will launch NASA’s Nuclear Spectroscopic Telescope Array satellite on June 13, 2012. Orbital is providing the spacecraft platform, performing overall system integration, and conducting the launch operations.
Force 3 acquired secureRAD, a provider of disruptive technology solutions for the medical imaging industry. Force 3 is currently a provider of imaging solutions to the military dental market, but pursued the acquisition to expand into medical image storage, management, and display markets. This new technology will allow Force 3 to address the continuous growth within the healthcare IT market, offering additional products to its growing customer base. Terms of the deal were undisclosed.
Drew Marine to acquire Chemring Marine, a leading supplier of marine distress signals including hand flares, man overboard buoys, line-throwers, and other required rescue products. Chemring Marine represents the maritime interests of Chemring Group PLC and will be acquired for a cash consideration of £32 million ($49 million). The acquisition will provide Drew Marine with essential products for safety, reliability, and compliance to the maritime industry. Drew Marine was acquired by J.F. Lehman & Company in 2009.
Northrop Grumman to acquire M5 Network Security, an Australian provider of cybersecurity and secure mobile communications products and services, as well as advanced analytics, to Australian military and intelligence organizations. The acquisition will enhance Northrop Grumman’s ability to provide innovative, proven cybersecurity and communication solutions to Australian customers. Terms of the deal were undisclosed.