The U.S. Army and a subsidiary of German defense company Rheinmetall have agreed to jointly develop combat vehicle technologies under a cooperative research and development agreement. American Rheinmetall Vehicles will collaborate with the Army Combat Capabilities Development Command’s Armaments Center to conduct R&D work focused on ammuni...
Virgin Orbit and blank check company NextGen Acquisition Corp. II (Nasdaq: NGCA) have agreed to merge that would result in the satellite launch services provider becoming a publicly traded company with an enterprise value of approximately $3.2 billion. The boards of directors of Virgin Orbit and NextGen have cleared the transaction and both parties ...
The U.S. Navy has awarded three multiple-award contracts worth approximately $2.76 billion combined to provide sustainment support for littoral combat ships homeported in Mayport, Florida. BAE Systems’ ship repair business and Fincantieri Marine Systems North America will compete for delivery orders under a potential five-year, $1.3 billion contra...
CAE (NYSE: CAE) has closed its $1.05 billion acquisition of the military training business from L3Harris Technologies (NYSE: LHX) while Renk AG completed its $400 million cash purchase of L3Harris’ combat propulsion systems unit and related assets. The two deals were first announced in March and completed Friday, three days after Christopher K...
A Raytheon Technologies (NYSE: RTX) business has marked the move of the U.S. Navy’s air combat training system into the production phase with the Milestone C completion. Raytheon said Wednesday Collins Aerospace also secured the first production order for the Navy’s Tactical Combat Training System Increment II, which is expected to reach initial...
NVIDIA (Nasdaq: NVDA) announced in September that it agreed to acquire U.K.-based semiconductor company Arm for approximately $40 billion and the chief executives of both companies explained how the transaction will help open up new opportunities and increase competition. “With this combination, we’ll be able to look at more markets at the same ...
The U.S. Air Force has awarded Learjet, a Bombardier subsidiary, a $464.8 million contract to procure an aircraft equipped with technology for airborne communications relay. The Wichita, Kansas-based company will deliver a maximum of six Bombardier Global 6000 jets that are fitted with the Battlefield Airborne Communications Node system, the Departm...
General Dynamics‘ (NYSE: GD) missions systems business has received a potential five-year, $79.2 million contract from the U.S. Navy for services in support of the Independence-class littoral combat ship. The company will provide in-service engineering and lifecycle support services for the LCS’ integrated combat management system and relate...
The State Department has approved Canada’s request to buy from the U.S. government the Aegis Combat System built by Lockheed Martin (NYSE: LMT) and associated equipment through a potential $1.7 billion foreign military sales deal. Lockheed’s rotary and mission systems unit will be the primary contractor on the proposed sale of four Aegis...
Stu Shea — chairman, president and CEO at Peraton and a 2021 Wash100 winner — has offered a glimpse into the nine business sectors that will arise out of the Peraton-Perspecta (NYSE: PRSP) merger slated to close in a few weeks. Shea said Thursday in a regulatory filing the businesses set to be formed by...
