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Tag Archives: Spinoff

Doug Wagoner to Step Down as SAIC Sector President in September; Tony Moraco Comments

Doug Wagoner, president of services and solutions sector at Science Applications International Corp. (NYSE: SAIC), will step down from his role at the Reston, Virginia-based government information technology services contractor on Sept. 1. Dan Harris, senior vice president and general manager of SAIC’s sector operations and planning, will take over as acting …

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Xerox Splits Into Digital Printing Tech, Service Businesses; Jeff Jacobson Comments

Xerox (NYSE: XRX) has officially separated into two publicly traded companies, one focused on digital printing technology and the other selling business process services. The digital print technology company will carry the Xerox name while the business process service provider will operate independently as Conduent (NYSE: CNDT), GovCon Wire reported June 2016. Xerox said Tuesday it received …

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Australia’s Defense Dept Awards $419M Contract to Leidos Subsidiary for IT Products, Services

Leidos‘ (NYSE: LDOS) Abacus Innovations Australia subsidiary has secured an estimated $418.7 contract from Australia’s defense department to provide computer equipment and accessories as well as centralized processing services to the country’s chief information officer group, ARN reported Friday. Leon Spencer writes the award runs through 2023 and follows an approximately $610 million deal that Lockheed Martin‘s (NYSE: …

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HPE to Merge Non-Core Software Assets With Micro Focus in $8.8B Deal; Meg Whitman Comments

Hewlett Packard Enterprise (NYSE: HPE) has announced plans to merge its non-core software assets with global enterprise software firm Micro Focus under an $8.8 billion deal that is expected to be tax-free to HPE. HPE said Wednesday both companies expect the combination of HPE’s big data, application delivery management, enterprise security, information technology operations …

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Vectrus Lifts 2016 Earnings, Revenue Guidance

Vectrus (NYSE: VEC) has lifted full-year earnings and revenue guidance on improved outlooks in cash flow for the 2016 second half and expectations of extra payments on debt. The Colorado Springs-based government communications services contractor now expects earnings per share in the $2.07-$2.32 range versus the previous $2.02-$2.31 range with revenue of $1.18 billion-$1.2 billion compared to …

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Mike Lawrie to Step Down as CSRA Board Chairman in August Ahead of CSC-HPE Enterprise Segment Combination

Computer Sciences Corp. (NYSE: CSC) CEO Mike Lawrie said Thursday he will step down from his roles as chairman and a member of the board of directors at the government technology services spinoff CSRA (NYSE: CSRA) August 9. Lawrie announced his departure from the CSRA board approximately one month after CSC announced its …

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Huntington Ingalls FY 2015, 4Q Earnings Below Wall Street Outlook; Full-Year Margin Hits Post-Northrop Spin Goal

Huntington Ingalls Industries (NYSE: HII) — one of 30 companies listed in Executive Mosaic’s GovCon Index — has reported earnings of $8.36 per share for the full 2015 calendar year to fall below Wall Street analysts forecasts of $8.99. Full 2015 net income rose 19.52 percent year-over-year to $404 million …

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Economic Times: Tata Consultancy Services Resumes Talks Over Acquisition of Dell’s IT Business

Tata Consultancy Services, an India-based information technology consulting firm, has resumed negotiations over its plans to acquire IT services provider Perot Systems from Dell, The Economic Times reported Monday. Anirban Sen and Jochelle Mendonca write Dell plans to sell Perot Systems for approximately $5 billion and has secured offers from …

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WSJ: Dell in Advanced Talks for Potential $50B EMC Buy, VMware Spinoff

Dell and its private equity parent firm Silver Lake are currently in advanced negotiations to buy EMC (NYSE: EMC) and spin off the VMware (NYSE: VMW) business from EMC after the transaction, the Wall Street Journal reported Wednesday. Liz Hoffman, Dana Mattioli and Joann Lublin write the companies could either reach an agreement or end …

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CSC US Gov’t Services Unit, SRA to Merge; Mike Lawrie Comments

Falls Church, Va.-based Computer Sciences Corp. (NYSE: CSC) has agreed to merge its U.S. government services unit with SRA International as part of its plans to spin off the unit. The companies said Monday they expect to close the merger in November upon completion of the Computer Sciences Government Service’s separation from and shareholders …

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