Software AG announced a $668 million cash merger with IDS Scheer. The deal will create a new billion dollar infrastructure software and Business Process Management software company and comes after the recent $7.4 billion Oracle acquisition of Sun Microsystems. The public takeover of IDS Scheer will give Software AG 47.68% of August-Wilhelm Scheer and Alexander Pocsay stock, founders of IDS Scheer. Germany-based IDS Scheer will aide Software AG in expanding into international markets such as Asia and South America. IDS Scheer’s specialization in BPM will compliment Software AG’s Service Oriented Architecture (SOA). Approval from German anti-trust authorities is pending.
The U.S. Space Force has awarded L3Harris Technologies (NYSE: LHX) a $119.2M contract modification to support modernization of the Ground-Based Electro-Optical Deep Space Surveillance system used to monitor geostationary communication satellites and other manmade objects in orbit.