A Note From Our President & Founder Jim Garrettson
The stalwart GovCon technology maker L-3 Communications extended its profile as an active player in the merger-and-acquisition scene this week and closed its first buys since a large business divestiture earlier this year.
In addition, we also may have a parallel situation with another notable GovCon identity that could pursue a similar path to that of L-3 in a diversion away from government services to a more product- and platform-focused strategy.
L-3 has started to put a small portion of its $550 million warchest from the February sale of its services segment to work in pair of deals GovCon Wire covered this week that represent the New York City-based contractor’s new approach.
L-3 COO Chris Kubasik foreshadowed the possibility of deals in October when he told investors the contractor had “kicked up the intensity a notch” in its M&A strategy with nearly “a dozen or so properties” as possibilities in commercial and defense.
We now also have to keep an eye on fellow defense electronics maker Harris Corp. for possible M&A-related developments there on the sell side of the equation.
According to Reuters, Harris has started work to divest some assets in an attempt to fetch around $1.5 billion total and continue its own portfolio reshaping effort.
The Melbourne, Florida-based radio maker struck a deal with activist investor Barry Rosenstein’s hedge fund Jana Partners in August to add two new board members and those appointments were revealed one month later.
In recent years, the U.S. intelligence landscape has seen a clear shift away from counterterrorism and a pivot toward “hard target” adversaries like China, North Korea, Russia and Iran. Within the intelligence community, this shift has spurred a reevaluation of intelligence tradecraft, a more concentrated focus on technology and an increased reliance on public-private partnerships
Modernization and digital transformation are linchpins of today’s GovCon landscape. As new technologies emerge, existing ones evolve and missions shift, the public sector is looking to industry more and more to help bring the U.S. government into the modern era and poise our military forces for technological dominance. Firms like Client Solution Architects are doing just
Raytheon Technologies’ (NYSE: RTX) Pratt & Whitney subsidiary will provide military services, non-Department of Defense organizations and foreign military customers with spare parts for the F-135 aircraft propulsion system under a potential $769.9 million contract modification from the U.S. Navy. DOD said Friday the vendor will also supply modules, packaging and shipping assistance, transportation materials,