Home / M&A Activity / Exelis to Spin Off Military, Gov’t Services Business; David Melcher Comments

Exelis to Spin Off Military, Gov’t Services Business; David Melcher Comments

ExelisExelis‘ board of directors (NYSE: XLS) has approved a plan to spin off the company’s military and government services business unit, known as Exelis Mission Systems, into a new independent company by the summer of 2014.

The new company will be led by Kenneth Hunzeker, president and general manager of the unit, and former ITT Corp. (NYSE: ITT) Chairman and CEO Louis Giuliano will serve as non-executive chairman of the board., Exelis said Wednesday.

David Melcher, Exelis president and CEO, said the company intends for the plan to support growth plans for a global market environment and help both Exelis and the new company fulfill requirements of their respective customers.David Melcher, Exelis, ExecutiveMosaic

McLean, Va.-based Exelis intends to focus its investments in four portfolio areas such as; intelligence, surveillance and reconnaissance and analytics; electronic warfare and aerostructures.

The mission systems business has about 7, 000 employees across more than 100 locations and provides facilities management, logistics and network communications services to its customer base.

Exelis estimates the business to have nearly $1.5 billion in 2013 revenue.

Check Also

NGA Deputy Director Stacey Dixon Receives 2020 Wash100 Award From Jim Garrettson, CEO of Executive Mosaic

Jim Garrettson, found and CEO of Executive Mosaic, presented Dr. Stacey Dixon, deputy director of the National Geospatial-Intelligence Agency (NGA), her first Wash100 Award as a part of the 2020 selection on Wednesday

Teresa Carlson, AWS Worldwide Public Sector VP, Named to 2020 Wash100 for Cloud Innovation, Business Expansion and New Educational Platforms

Executive Mosaic is honored to present Teresa Carlson, vice president of the worldwide public sector business at Amazon Web Services, as an inductee into the 2020 edition of the Wash100 Award for driving cloud innovation, expanding AWS' influence and advocating for cloud computing education within Virginia schools.