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Exelis to Repurchase Up to $350M in Shares Over 2-Year Period

Exelis (NYSE: XLS) plans to repurchase its outstanding common stock worth as much as $350 million following the board of directors’ approval of a two-year share repurchase program. The company said Tuesday it will repurchase an undefined number of shares at any time within the period ending Nov. 4, 2016, based on federal securities legislation and …

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Exelis Spins Off Gov’t Services Arm ‘Vectrus’

Exelis (NYSE: XLS) has completed the spinoff of its mission systems business unit into a standalone company called Vectrus. Vectrus will trade under the “VEC” ticker symbol beginning on Monday and aims to deliver information technology, infrastructure and supply chain management, network communication and logistics services in the government market, …

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NASA Issues $221M Infrared Instrument Contract Extension to Exelis

Exelis‘ (NYSE: XLS) geospatial systems division has received a $221 million contract modification from NASA to continue support for the agency’s Joint Polar Satellite System-2 mission for an additional three years. The contract covers work to manufacture, test, deliver, integrate and perform launch and post-launch support of the Cross-track Infrared Sounder instrument for the JPSS-2 mission, …

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Exelis Sets Mission Systems Business Spinoff Completion Date, ‘Vectrus’ to Start NYSE Trading Sept. 29

Exelis‘ (NYSE: XLS) board of directors has approved the spinoff of the company’s mission systems business division into a separate, publicly traded company that will operate as Vectrus. The companies have set Sept. 27 as the date to complete the transaction and Vectrus will begin regular way trading on the New York Stock Exchange Sept. …

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Exelis Wins $517M for Army Corps of Engineers IT Support Work

The U.S. Army Corps of Engineers has awarded Exelis (NYSE: XLS) a potential five-year, $517 million contract to perform information technology support work at various USACE facilities worldwide. Exelis said Wednesday it will deliver enterprise IT management services to the military organization’s more than 37, 000 clients around the globe. …

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Exelis Buys Air Traffic Control Software Maker Barco Orthogon

Exelis (NYSE: XLS) has moved to expand its aviation systems portfolio by acquiring Barco NV‘s air traffic management software business Orthogon. Orthogon develops software applications for airport operators to manage queues, predict runway allocation and collaborate with air navigation service providers, Exelis said Friday. The ATM business will operate under …

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NATO Country Buys Exelis Radios to Secure Data Backbone

Exelis (NYSE: XLS) will supply a NATO client with high-capacity radios that are intended to serve as the customer’s communications data backbone under a $12 million contract. The data radio system is designed to protect data connections between command headquarters and ground forces, Exelis said Monday. Exelis will perform the work …

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Rich Sorelle: Exelis Seeks C4ISR, Analytics Portfolio Growth With Celestech Buy

Exelis (NYSE: XLS) has acquired technology development and engineering services firm Celestech in a move to grow Exelis’ portfolio of C4ISR and data analytics offerings. Financial terms of the deal were not disclosed and Exelis does not expect the transaction to have a material impact on its second quarter 2014 …

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David Melcher: Exelis Eyes Asia-Pacific Market Expansion With Regional HQ

Exelis (NYSE: XLS) plans to open a regional headquarters in Melbourne to address aerospace, defense and information security requirements of customers across the Asia-Pacific region. The company will also build a facility in Melbourne that will research, develop, test and integrate technology in areas such as networking, analytics and electronic …

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Exelis Subsidiary to Build NASA Earth Scanning Radiometer for Up to $208M

An Exelis (NYSE: XLS) subsidiary will develop develop a scanning radiometer for NASA to measure the Earth’s energy balance under a potential $208 million contract. ITT Space Systems LLC will make the Radiation Budget Instrument that is scheduled for launch in November 2021 aboard the Joint Polar Satellite System 2 spacecraft, NASA said …

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