M&A Activity

Semiconductor manufacturer Broadcom (Nasdaq: AVGO) has determined cost savings and received financing to support its plan to acquire cybersecurity firm Symantec (Nasdaq: SYMC) in an all-cash transaction including debt valued at more than $22B, Bloomberg reported Monday.

European conglomerates Leonardo and Thales are considering a joint bid to buy Maxar Technologies (NYSE: MAXR) subsidiary that develops technology for space and terrestrial applications, Reuters reported Tuesday. Leonardo CEO Alessandro Profumo cited satellite antenna technology as a technology area of interest in MDA.

Information technology and scientific services provider A-TEK has acquired Reston, Va.-based Mackson Consulting in an effort to broaden its footprint in the federal health IT market.

Defense engineering services contractor Gryphon Technologies has purchased Sewell, N.J.-based engineering firm PGFM Solutions for an undisclosed sum.

L3Harris Technologies (NYSE: LHX), the new company formed by the merger of defense contractors Harris and L3 Technologies, has organized its operations into four business segments with the goal to help government and commercial customers address mission requirements. Melbourne, Fla.-based L3Harris said Monday it expects to generate $17B in annual revenue through its operating businesses that will offer a range of technology platforms in the air, sea, land, space and cyber areas.

IBM (NYSE: IBM) has secured unconditional approval from the European Commission for its proposed acquisition of Red Hat (NYSE: RHT) for $34B cash, nearly two months after the U.S. Department of Justice cleared the transaction. The commission said Thursday the merger, which both companies first announced in October 2018, would not put market competition at risk.

Metis Solutions has finalized its acquisition of Alexandria, Va.-based intelligence services contractor Pluribus International for an undisclosed sum in an effort to expand its offerings to the intelligence community and other national security customers.

Harris (NYSE: HRS) and L3 Technologies (NYSE: LLL) set June 29, Saturday, as the closing date for their all-stock merger deal after they secured the regulatory clearances needed to complete the transaction.

The Department of Justice has given L3 Technologies (NYSE: LLL) and Harris (NYSE: HRS) an antitrust approval to advance their merger through an all-stock transaction, Reuters reported Friday.

A McAleese & Associates report says the merged company of L3 Technologies (NYSE: LLL) and Harris (NYSE: HRS) would invest 4 percent of $18B combined revenue in independent research-and-development efforts.