The Wall Street Journal reported that Lockheed Martin is in advanced talks to acquire United Technologies Corp’s (“UTC”) Sikorsky Aircraft business for approximately $8 billion, making it Lockheed’s largest acquisition in the past decade.
The explosion of SpaceX’s Falcon 9 rocket on June 28th has ignited discussion among military officials over the feasibility of running a competitive space launch program. Implications for a company that encounters a failure could be fatal as it would likely require shutting down that company for a significant period of time to investigate.
Recently announced acquisitions of Autonomic Resources, Carpathia, and Virtustream have all had one thing in common – a FedRAMP certification – the “Golden Ticket” in today’s crowded Federal cloud marketplace.
On Tuesday, Boeing announced that Dennis Muilenburg will replace Jim McNerney as Chief Executive Officer, effective in July of this year. Muilenburg joined Boeing in 1985 as an intern and throughout his tenure has held top positions in both the Defense Space & Security division and Combat Systems division.
Under mostly sunny skies and cool weather at Le Bourget, the Paris Air Show captured the aerospace/defense industry’s attention this past week. Order announcements came in much greater than pre-show predictions at 1,017 commitment orders and 206 option orders summing to ~$69.0 billion new business won.
In recent years, the General Services Administration (“GSA”) has released larger and broader awards to leverage contract bundling as a cost cutting measure. The effort to avoid duplicative or redundant contracts and programs within the Federal Government has shifted focus on the GSA as a primary procurement avenue.
Colt Defense, a West Hartford, Connecticut based firearm manufacturer, appears to be headed into a showdown with its bondholders after missing a $10.9 million payment last month. Colt’s modern sports rifles and handguns sales fell 30.0% in 2014 and its cash on hand diminished to a balance of $11.9 million as of May 22nd.
As a continuation of the red-hot M&A activity that’s been occurring in the defense microwave / radio frequency (“RF”) sector, Ultra Electronics announced the acquisition of the Electronics Products Division (“EPD”) of Kratos Defense & Security Solutions for $265 million.