Renovus Capital Partners has raised $875 million from new and existing investors for its fourth private equity fund. The Philadelphia-based private equity firm said Tuesday Renovus IV was oversubscribed, exceeding its target of $750 million. According to Renovus, the fourth fund will focus on making control investments in founder-owned small and med...
A General Dynamics (NYSE: GD) subsidiary has secured two U.S. Navy contract modifications valued at approximately $1.2 billion combined to provide materials to support the construction of Block V and VI Virginia-class nuclear-powered attack submarines. Contract Action for Block V Submarines The Department of Defense said Tuesday a potential $878 mil...
The Department of Defense has awarded defense technology company Anduril Industries a $250 million contract to strengthen air defense capabilities across all military services. Anduril said Tuesday the contract covers the delivery of more than 500 Roadrunner-Ms and additional Pulsar electronic warfare capabilities to enhance the nationR...
A Raymond James (NYSE: RJF) report has found that the volume of merger and acquisition-related transactions in the government technology solutions market dropped 12 percent in the third quarter of 2024 compared with the same period last year. According to the company’s quarterly market update, despite the decline in Q3 2024 M&A deal volume...
Josh Montgomery has assumed the role of chief financial officer at ITC Federal, a Fairfax, Virginia-headquartered federal systems integrator. He brings to the role a wealth of experience in leading financial planning and analysis, mergers and acquisitions, and defense and government operations, the company said Tuesday. Montgomery most recentl...
California-based artificial intelligence company Cerebras Systems is likely to postpone its initial public offering scheduled for mid-October due to delays associated with a Committee on Foreign Investment in the United States review of a minority investment from G42, a technology conglomerate based in the United Arab Emirates, Reuters reported Tues...
The General Services Administration has announced that ordering periods for the 8(a) and small business tracks of the One Acquisition Solution for Integrated Services contract vehicle, also known as OASIS, will cease on Dec. 19. GSA said Tuesday the OASIS Unrestricted vehicle’s ordering period will end on March 1, 2025. The agency noted that a...
LMI has appointed Jonathan Stammler, an information technology and security executive, as chief information officer. Stamler announced his appointment in a LinkedIn post published Tuesday. According to his profile on the professional networking site, this marks his return to LMI, where he served as chief information security officer and information ...
The last major development for AUKUS — the technology innovation alliance between the U.S., the U.K. and Australia — a month ago saw the U.S. State Department lifting the need for these two American partners to obtain licenses to buy the majority of weapons from the States, the largest global armaments producer. As of Friday, Reuters...
The Department of Veterans Affairs has issued a request for information to determine possible artificial intelligence programs and governance support to enhance services for veterans. According to the notice published on Sam.gov Thursday, the department is seeking industry input on how to utilize AI to manage, operationalize and imple...
