M&A Activity

George Whittier: Fairbanks Morse Eyes Military Ship Aftermarket Expansion Through Ward Leonard Acquisition

George Whittier CEO Fairbanks Morse

Fairbanks Morse has purchased naval motor and control technology provider Ward Leonard Operating for an undisclosed sum to grow power generation equipment and aftermarket service offerings in the military sector. George Whittier, CEO of Fairbanks Morse, said he expects the deal to help build the company's status as a power systems integrator for the U.S. Navy and Coast Guard.

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LinQuest Closes TMC Design Purchase; Tim Dills Quoted

Tim Dills CEO LinQuest

Space systems technology developer LinQuest has completed its purchase of advanced engineering company TMC Design for an undisclosed sum. LinQuest CEO Tim Dills said in a statement published Tuesday the combination with TMC Design will allow LinQuest to create a suite of platforms to provide mission-essential capabilities that could help customers address the country’s national security threats.

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HII Acquires Autonomy Business of Spatial Integrated Systems; Andy Green Quoted

Andy Green, EVP and President HII Technical Solutions

Huntington Ingalls Industries (NYSE: HII) has acquired Spatial Integrated Systems’ autonomy business for an undisclosed sum as part of efforts to further expand its unmanned systems capabilities. "2020 was a significant year for HII in the unmanned systems industry, and this acquisition is the perfect complement to our existing portfolio and strategic partnerships,” Andy Green, an executive vice president and president of HII Technical Solutions and a two-time Wash100 award winner, said in a statement published Monday.

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Chuck Prow: Vectrus to Buy Zenetex in Intelligence Community, Digital Tech Expansion Push

Chuck Prow, president and CEO of Vectrus

Vectrus (NYSE: VEC) has agreed to acquire technology services provider Zenetex for approximately $112M as part of efforts to advance its converged infrastructure strategy and expand its customer base with the addition of new intelligence, defense and foreign military sales clients. "Zenetex broadens our reach into the Intelligence Community and expands our engineering and digital technology offerings, which is critical as we expand our capabilities to help our clients' transition to a more instrumented and converged approach to supply chain and facility management,” said Chuck Prow, president and CEO of Vectrus and a 2020 Wash100 award winner.

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Qualtrics Expects Valuation of $14B From IPO

Qualtrics

Qualtrics, an experience management platform developer acquired by SAP (NYSE: SAP) in 2018, filed with the Securities and Exchange Commission for its planned initial public offering and will trade on Nasdaq using the ticker symbol “XM,” CNBC reported Monday. Qualtrics said in its SEC filing it will sell shares at $20 to $24 apiece through the IPO, which is expected to occur by January and would value the cloud software company at approximately $12B to $14.4B.

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