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M&A Activity

Reports: Inmarsat Turns Down EchoStar’s Takeover Offer

Inmarsat has declined to accept Colorado-based EchoStar’s (Nasdaq: SATS) takeover bid, saying the offer “undervalued” the U.K.-based satellite communications provider, Reuters reported Saturday. “After carefully considering the proposal with its advisers the board rejected the proposal on the basis that it very significantly undervalued Inmarsat and its standalone prospects,” Inmarsat …

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Culmen Buys PlanetRisk’s Federal Services Business; Dan Berkon Comments

Alexandria, Va.-based technical and management services contractor Culmen International has bought the federal services business of PlanetRisk for an undisclosed sum in a push to grow technology and expertise offerings in the federal market. Culmen CEO Dan Berkon said in a statement released Friday the company aims to establish new customer relationships within …

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Northrop Closes Orbital ATK Purchase; Blake Larson Named Innovation Systems Sector President

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 called Northrop Grumman Innovation Systems. Blake Larson, most recently chief operating officer at Orbital ATK, has been elected by the board as …

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FTC Clears Northrop’s Orbital ATK Purchase

The Federal Trade Commission has given Northrop Grumman (NYSE: NOC) antitrust approval to proceed with its proposed $9.2 billion acquisition of Orbital ATK (NYSE: OA). Northrop said Tuesday the FTC clearance calls for it to make solid-rocket motors available to competitors on “a non-discriminatory basis” and that it expects to close the deal …

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Qualys to Buy Second Front Systems in Federal Market Expansion Push

Qualys (Nasdaq: QLYS) has signed a letter of intent to buy Arlington, Va.-based advisory services provider Second Front Systems for an undisclosed sum as part of efforts to expand its footprint in the federal government, military and national security markets. Qualys said Monday both companies need to sign definitive agreements before …

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Perspecta Announces Senior Leadership Team, Board of Directors; Mac Curtis Comments

Perspecta (NYSE: PRSP) has unveiled the members of its senior leadership team and board following its spinoff from DXC Technology (NYSE: DXC) and combination with Vencore and KeyPoint Government Solutions. Mac Curtis, president and CEO of Perspecta, will also serve on the board of the company that started trading Friday on the New …

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Perspecta Begins Trading on NYSE as Independent Firm Under CEO Mac Curtis

Perspecta has begun to trade under the ticker symbol “PRSP” on the New York Stock Exchange after it finalized its separation from DXC Technology (NYSE: DXC) and subsequent merger with Vencore and KeyPoint Government Solutions. The independent publicly traded combined company has 14,000 employees and $4.2 billion in pro-forma revenues, Perspecta said Friday. …

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Valiant Closes $135M Purchase of Cubic’s Global Defense Services Business; Bradley Feldmann Comments

Valiant Integrated Services has wrapped up its approximately $135 million cash acquisition of Cubic’s (NYSE: CUB) global defense services business. Bradley Feldmann, Cubic chairman, president and CEO, said in a statement published Friday the completion of the divestiture is a significant step for the company as it works to achieve and bring …

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Private Equity Firms Buy Space Tech Maker LinQuest

CoVant Management and Madison Dearborn Partners have purchased Los Angeles-based space systems technology platforms provider LinQuest for an undisclosed sum. LinQuest CEO Leon Biederman will continue to oversee the company and maintain “a significant minority ownership position” in the firm along with other members of the management team, CoVant said Tuesday. Biederman …

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Report: Cerberus Eyes Potential Sale of DynCorp

Private equity firm Cerberus Capital Management is considering putting DynCorp International up for sale in a deal that could be worth at least $1.3 billion, Reuters reported Thursday. Sources told Reuters that Cerberus has tapped two investment banks to help seek offers from potential acquirers of the defense contractor. The …

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