Global Strategies Group North America has announced that its Public Sector Defense business will conduct an Initial Public Offering. GLOBAL Defense Technology & Systems, Inc. will be led by CEO John Hillen (one of ExecutiveBiz’s top 20 People to Watch in ’09). The firm has filed an S-1, the necessary registration statement, with the SEC. The statement outlines plans for an IPO of its common stock, although details such as price and number of shares are yet to be specified. GLOBAL Defense Technology & Systems has selected GTEC as their Nasdaq Global Market symbol. Cowen and Company has been named as the only book-running manager for the planned IPO.
The Space Development Agency has released a request for information on potential launch service providers that could help field satellites as part of the proposed National Defense Space Architecture.
Raytheon Technologies (NYSE: RTX) has secured a $92.4M contract to help the U.S. Army sustain a mid-range air defense platform used to target aircraft and cruise missile threats.