Home / Tag Archives: Spinoff

Tag Archives: Spinoff

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

leidos_purple

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: …

Read More »

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

acquisition, merger

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 …

Read More »

Vectrus Lifts 2016 Earnings, Revenue Guidance

Vectrus

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 …

Read More »

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

Mike Lawrie

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 …

Read More »

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

Huntington Ingalls HII

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 …

Read More »

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

acquisition

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 …

Read More »

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

acquisition, merger

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 …

Read More »

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

acquisition, merger

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 …

Read More »

WSJ: L-3 Eyes Potential Separation of Nat’l Security Business

L-3 logo

L-3 Communications (NYSE: LLL) is looking into a potential separation of its national security solutions business that offers cybersecurity services to government and commercial agencies, the Wall Street Journal reported Thursday. Doug Cameron writes that segment recorded $1.2 billion in sales during its 2014 fiscal year and the company’s review of its …

Read More »

Reuters: Lockheed, Textron Final Bidders for UTC’s Sikorsky Helicopter Arm

Helicopter Radar

United Technologies (NYSE: UTX) is mulling offers from Lockheed Martin (NYSE: LMT) and Textron (NYSE: TXT) to purchase UTC’s Sikorsky Aircraft subsidiary, Reuters reported Wednesday. Andrea Shalal and Mike Stone write UTC may reach a decision on the offers by the end of the month or could decide instead on a tax-free spinoff …

Read More »