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M&A Activity

Alan Marc Smith: Millstein Targets Govt IT Market Expansion With DLT Buy

Financial advisory firm Millstein & Co. has acquired DLT Solutions for an undisclosed amount with the goal of helping DLT to expand its information technology offerings in the government market. DLT said Friday that Alan Marc Smith, a more than 25-year industry veteran and operating partner at Millstein, has joined …

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Huntington Ingalls Buys Undersea Drone Builder; Matt Mulherin Comments

Huntington Ingalls Industries (NYSE: HII) has acquired the underwater drone manufacturing business of Columbia Group for an undisclosed amount. The division will operate as a subsidiary known as Undersea Solutions Group within Newport News Shipbuilding’s submarine and fleet support division, Huntington Ingalls said Friday. Matt Mulherin, HII corporate vice president and Newport News Shipbuilding president, …

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Report: Airbus Seeks Majority Stake of MBDA

Airbus wants to buy Finmeccanica’s 25 percent share of European missile company MBDA, Reuters reported Monday. Airbus plans to bolster its 37.5 percent stake at MBDA after Finmeccanica announced sale of its share, Alexandre Boksenbaum-Granier and Valentina Za report, citing a report from Britain’s Sunday Times. Analysts estimate Finmeccanica’s MBDA …

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Report: Finmeccanica Plans Sale of $224M in DRS Assets

Finmeccanica is looking to divest approximately $224 million worth of assets in DRS Technologies this year, Defense News reported Tuesday. Tom Kington writes Finmeccanica announced the divestment plan as the Italian conglomerate unveiled a revised earnings guidance and an industrial strategic plan. Last summer, Mauro Moretti, Finmeccanica CEO, said he …

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David Thompson: Orbital, ATK Set Feb. 9 Date to Close A&D Merger and Outdoor Group Spinoff

Both sets of stockholders Orbital Sciences (NYSE: ORB) and ATK (NYSE: ATK) voted Tuesday to approve the transaction that will see Orbital merge with ATK’s aerospace and defense groups. The merger is scheduled to close Feb. 9 and the combined company will trade as Orbital ATK under the stock ticker symbol “OA” …

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Marc Parent: CAE Eyes Flight Training Program Expansion with Purchase of Bombardier Unit

CAE (NYSE: CAE) has agreed to buy the military aviation training business of Bombardier for approximately $15.9 million in an effort to further help defense customers train future airmen. The Bombardier unit works with the Royal Canadian Air Force and allied forces as a prime contractor in the NATO Flying …

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Raytheon Purchases Unmanned Tech Services Firm Sensintel; Taylor Lawrence Comments

Raytheon (NYSE: RTN) has purchased Tucson, Ariz.-based unmanned aircraft systems services firm Sensintel for an undisclosed sum and will integrate the company into Raytheon’s missile systems business. Taylor Lawrence, president of Raytheon’s missile systems segment, said Monday Sensintel will become a part of Raytheon’s advanced missile systems product line as Raytheon aims …

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Bridge Growth Partners Closes CRGT Purchase: Alok Singh Comments

New York City-based private equity firm Bridge Growth Partners has completed its acquisition of a majority ownership stake in data analytics and cybersecurity contractor CRGT from Veritas Capital. “The federal IT services sector represents fertile ground for agile software development, big data, and cybersecurity, ” Alok Singh, co‐founder and managing principal …

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L-3 Acquires RF Microwave Tech Maker Miteq for $41M; John Mega Comments

L-3 Communications (NYSE: LLL) has purchased radio frequency microwave technology manufacturer Miteq for $41 million and will create a new business that will operate under the name L-3 Narda-Miteq. The transaction will combine Miteq’s RF microwave products and solid-state satellite communications components with similar technologies made by L-3’s Narda Microwave East company that is based in Hauppauge, …

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John Heller: PAE Buys USIS’ Global Security, Solutions Business to Add DOJ Work

Government logistics contractor PAE has purchased the global security and solutions business of US Investigations Services — or USIS — for an undisclosed sum. Arlington, Va.-based PAE said Friday it sought to grow its business with the Department of Homeland Security and other customers in the classified market as the GS&S business …

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