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Tag Archives: divestiture

Baird’s Jean Stack: 2018 a Transformational Year for GovCon

Several top government contractors and industry experts attended Baird’s 2018 Government Services and Defense Conference. “2018 has been a transformational year of M&A at scale in the government services and defense market,” Jean Stack, managing director for global investment banking at Baird, told GovConWire. Stack added that she expects 2019 to …

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Valiant Closes $135M Purchase of Cubic’s Global Defense Services Business; Bradley Feldmann Comments

Valiant Integrated Services has wrapped up its approximately $135 million cash acquisition of Cubic’s (NYSE: CUB) global defense services business. Bradley Feldmann, Cubic chairman, president and CEO, said in a statement published Friday the completion of the divestiture is a significant step for the company as it works to achieve and bring …

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Eric DeMarco: Kratos Eyes Defense Business Focus With Public Safety & Security Divestiture

Kratos Defense and Security Solutions (Nasdaq: KTOS) has agreed to sell its public safety and security system integration business to Securitas Electronic Security for approximately $69 million in cash. Eric DeMarco, Kratos president and CEO, said in a statement published Wednesday the divestiture concludes the execution of the company’s strategy to transition …

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Harris to Sell Maritime Comm Business for $425M, First Divestiture Since Jana Pact

Harris Corp. (NYSE: HRS) has agreed to sell its maritime energy communications business to global satellite services company SpeedCast International for $425 million in the military radio maker’s first divestiture since its August agreement with activist hedge fund Jana Partners. This move is part of Harris’ larger effort to examine non-core businesses and …

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Harris & Engility Top Wall Street’s Quarterly Earnings Forecasts, KBR Reports 3Q Net Loss

Three GovCon Index-listed government contractors and one also included in the S&P 500 composite index posted quarterly financial results before markets opened Tuesday. Co-listed Harris Corp. (NYSE: HRS) posted fiscal year 2017 first quarter results above Wall Street’s consensus forecasts and in conjunction announced a $425 million sale of its CapRock communications business as …

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Reuters: Harris to Auction Some Parts of Critical Networks Division

Harris Corp. (NYSE: HRS) has put some parts of its critical networks division up for sale in a transaction that could be worth more than $1 billion, Reuters reported Tuesday. Mike Stone and Michael Flaherty write the potential divestiture includes Harris’ information technology services operation and comes a month after the Melbourne, Florida-based communications technology …

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Haskell to Purchase Leidos’ Heavy Construction Business, Design Assets

Jacksonville, Florida-based engineering and infrastructure services company Haskell has agreed to purchase Leidos‘ (NYSE: LDOS) heavy construction business and some design assets of the latter’s engineering business for an undisclosed sum. Haskell said Wednesday the transaction is scheduled to close in the second quarter of 2016 and will rebrand the Leidos Constructors and Leidos Engineering design asset businesses to Benham, the name …

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KEYW to Sell Systems Engineering & Technical Assistance Unit to Quantech Services

KEYW Corp. (Nasdaq: KEYW) has agreed on a $12 million cash deal for the sale of its systems engineering and technical assistance business to Quantech Services. “As part of an ongoing strategic review of our business, we came to the conclusion that the growth potential of both KEYW’s core business …

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Ultra Electronics Closes Buy of Kratos’ US, UK Electronic Products Business

British manufacturing conglomerate Ultra Electronics Holdings has completed its purchase of Kratos Defense & Security Solutions‘ (Nasdaq: KTOS) U.S. and U.K. electronic products business for $260 million in cash and $5 million in taxes incurred. Kratos said Monday its net cash proceeds from the transaction are $232.4 million after a $2 million escrow for purchase price adjustments, a $7.6 million working capital …

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WSJ: L-3 Eyes Potential Separation of Nat’l Security Business

L-3 Communications (NYSE: LLL) is looking into a potential separation of its national security solutions business that offers cybersecurity services to government and commercial agencies, the Wall Street Journal reported Thursday. Doug Cameron writes that segment recorded $1.2 billion in sales during its 2014 fiscal year and the company’s review of its …

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