Northrop Grumman (NYSE: NOC) wrapped up its approximately $9.2 billion purchase of Orbital ATK on Wednesday and will now run the newly acquired company as its fourth business sector calledÂ Northrop Grumman Innovation Systems.
Blake Larson, most recently chief operating officer at Orbital ATK, has been elected by the board as corporate vice president and president of Northrop Grumman Innovation Systems and will report to Kathy Warden, Northrop president and COO, Northrop said Wednesday.
Wes Bush, chairman and CEO of Northrop, said the company welcomes Orbital ATKâs employees and expects the combination to leverage both firmsâ technologies and culture to develop mission capabilities and offerings in global security domains.
Warden and Bush are both 2018 Wash100 recipients.
TheÂ Federal Trade Commission cleared the deal on Tuesday with a requirement for Northrop to supply solid-rocket motors to competitors onÂ âa non-discriminatory basis.â
Northrop announced the acquisition in September 2017 in a move to expand technology offerings and accelerate innovation efforts.