A Note From Our President & Founder Jim Garrettson
The worldâs largest aerospace and defense contractorâs message to investors and other GovCon industry observers this week on the future of its government services business can be boiled down to this: wait âtil next year.
Bruce Tanner, chief financial officer at Lockheed Martin, told a group of industry analysts the company has pushed the target date of a sale or spin-out of the services segments out to March 2016 from its original year-end intention in order to further examine external interest.
Tannerâs announcement to the Credit Suisse Industrials Conference in Florida fills the second of three pieces in the puzzle of how large prime contractors would contribute to the GovCon services segmentâs consolidation narrative for 2015.
BAE Systems officially took its U.S. government services segment off the auction block two weeks ago and L-3 Communications is looking to make a decision on its own services business by this yearâs end.
For GovCon watchers, Tannerâs comments tell the story of the GovCon services sectorâs shifting landscape and why large primes like Lockheed may no longer want to stay in.
“This has become a marketplace where past performance does not have much precedence on future awards as it once did. It’s truly a cost shootout and what we saw was more entrants into this businesses as single-model businesses.â
Other industry players see an opportunity to stay in or even double down and we saw that come into play fromÂ Engility over the past two years with its purchase of Dynamics Research Corp. and the blockbuster combination with its Chantilly neighbor TASC.
Our website ExecutiveBiz recently caught up with Engility CEO Tony Smeraglinolo and COO John Hynes for insight into how industry is thinking about services sector consolidation, plus their outlook for Engility next year and beyond after the TASC deal.
Please click here to read more of our conversation with Engilityâs top two executives.
Jane Forman and Joan Cannaday have joined Ambit GroupÂ as adviser and associate vice president, Â respectively. Forman, formerly a principal at Deep Water Point, will aid in the company’s effort to develop and apply best practices to government clients, Ambit Group said Thursday. She previously held roles such as senior VP at CACI International (NYSE: CACI),
Weekly Roundup Nov 30 – Dec 4 2015 Click here to seeÂ Real-Time GovCon Sector Quotes A Note From Our President & Founder Jim Garrettson The worldâs largest aerospace and defense contractorâs message to investors and other GovCon industry observers this week on the future of its government services business can be boiled down to this:
TYSONS CORNER, VA May 5, 2015 â Executive Mosaic â ACG National Capital has named this yearâs winners of its annual Corporate Growth Awards to recognize the mergers and acquisition deals that made the most impact in the Washington D.C. region over the past 12 months, GovCon Executive reported Monday. Vencore President and CEO Mac