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M&A Activity

URS Purchases Apptis for $260 Million; Randall Wotring Comments

URS (NYSE: URS) announced it has a deal inplace to acquire Apptis for $260 million in cash. Apptis focuses on IT services for the federal market. “By enabling URS to serve the growing need for critical IT services, the addition of Apptis enhances our ability to continue to meet the …

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Terremark-Verizon Acquisition Hearing Set; Firms Plan to Fight if Settlement is Not Approved

Terremark, now a subsidiary of Verizon, announced that the Delaware Court of Chancery will hold a hearing on June 21 “to consider the proposed settlement of litigation brought in connection with Verizon’s acquisition of Terremark.” The firms noted that if the settlement is not approved, they will defend against the …

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Cisco Caps newScale Acquisition

Cisco (NASDAQ: CSCO) has finalized its sale of newScale Inc., a service catalog and self-service portal software for IT organizations looking for a quick shift to a cloud platform. services within their businesses. According to the firm, “Cisco’s cloud strategy is to harness the network as a platform for building …

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Raytheon, General Dynamics, Others Team to Pursue AF Space Work

Raytheon’s (NYSE: RTN) Technical Services Company is partnering with General Dynamics (NYSE: GD), ASRC Aerospace Corporation, ARES Corporation, Schafer Corporation and World Technical Services Incorporated to create integrated operations support for the Air Force’s space community. According to the firm, “as experts in developing and delivering range operations customized engineering …

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Global Crossing Purchased by Level 3 in Deal Valued at $3 Billion

Level 3 Communications (NASDAQ: LVLT) and Global Crossing Limited (NASDAQ: GLBC) reached an agreement that will see  Level 3 acquire Global Crossing in a tax-free, stock-for-stock transaction. This transaction will create a company with pro forma combined 2010 revenues of $6.26 billion. According to the firms, Global Crossing shareholders will …

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Lockheed Completes PAE Divestiture

Lockheed Martin (NYSE: LMT) finalized the divestiture of its Pacific Architects and Engineers Inc. business to Lindsay Goldberg for an undisclosed amount. Lockheed decided to divest PAE last year after a comprehensive review of the company’s portfolio and customer priorities.

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Done Deal: Harris Closes Carefx Purchase

Harris (NYSE: HRS) has completed its planned purchase of Carefx Corporation, a firm focused on interoperability workflow solutions for government and commercial healthcare providers. The firm purchased Carefx for $155 million in cash, subject to post-closing adjustments. Harris expects to leverage the firm’s Fusionfx solution for its growing healthcare operations. …

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CSC Reaches Deal to Purchase Healthcare IT Firm iSOFT’s Globals Ops

CSC (NYSE: CSC) reached an agreement to purchase iSOFT Group Limited (ASX: ISF), an advanced healthcare IT solutions firm, via “court-approved scheme of arrangement.” According to the firm, “the acquisition will complement and strengthen CSC’s market-leading software products and healthcare integration and services portfolio, while enhancing its healthcare research and …

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NCI Finalizes AdvanceMed Purchase

NCI (NASDAQ:NCIT) has acquired the outstanding capital stock of CSC’s (NYSE: CSC) AdvanceMed. AdvanceMed supports services focused on the detection and prevention of fraud, waste, and abuse in healthcare programs, providing investigative services to the Centers for Medicare and Medicaid Services. NCI purchased the firm for $62 million.

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BAE Systems Closes Fairchild Imaging Purchase

BAE Systems has completed its planned acquisition of Fairchild Imaging, Inc. California-based Fairchild Imaging specializes in solid-state electronic imaging components, cameras, and systems. “Fairchild Imaging offers advanced electronic imaging technology that will enhance our ability to serve our customers with lower size, weight, and power devices for both airborne and …

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