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Tag Archives: Spinoff

Nuclear Industry Vet David Batters Appointed AECOM SVP, Int’l Sector Lead; John Vollmer Quoted

David Batters, formerly group chief financial officer at the U.K. Nuclear Decommissioning Authority, will serve as AECOM’s (NYSE: ACM) senior vice president and international sector lead for nuclear and environment strategic business unit within the company’s management services group, starting Sept. 1.

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AECOM Board OKs Management Services Group Spinoff Plan

The board of directors at AECOM has approved the company’s plan to separate its management services business as a new publicly traded company that will primarily serve national government clients. AECOM said Monday it expects to complete the spinoff in the second half of its 2020 fiscal year and retain John Vollmer, the segment’s president and a 2019 Wash100 winner,  along with the current management team in the leadership of the future independent company.

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UTC to Split Into Three Firms After Rockwell Collins Deal Completion; Greg Hayes Quoted

United Technologies Corp. (NYSE: UTX) has announced plans to divide into three independent companies after it completed its $30B purchase of Rockwell Collins (NYSE: COL). UTC said Monday it will combine its aerospace systems business with Rockwell Collins to form Collins Aerospace Systems and expects the transaction to be $0.15 to $0.20 …

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Perspecta Begins Trading on NYSE as Independent Firm Under CEO Mac Curtis

Perspecta has begun to trade under the ticker symbol “PRSP” on the New York Stock Exchange after it finalized its separation from DXC Technology (NYSE: DXC) and subsequent merger with Vencore and KeyPoint Government Solutions. The independent publicly traded combined company has 14,000 employees and $4.2 billion in pro-forma revenues, Perspecta said Friday. …

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Olivier Rabiller to Lead Honeywell Transportation Systems Business Spinoff

Olivier Rabiller will continue to serve as president and CEO of Honeywell‘s (NYSE: HON) transportation systems business after the unit’s separation from Morris Plains, N.Y.-based industrial conglomerate into a standalone public company. Honeywell said Friday it expects to complete the spinoff by the end of the third quarter. Rabiller joined the company …

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FTC Clears Merger of DXC’s US Public Sector Business With Vencore, KeyPoint

The Federal Trade Commission has given antitrust approval to DXC Technology (NYSE: DXC) to merge its U.S. public sector business with Vencore and KeyPoint Government Solutions. FTC issued Friday a notice of early termination of the required waiting period for the deal under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, DXC said Wednesday. DXC originally announced the …

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Honeywell to Spin Off Business Groups by End of 2018; Darius Adamczyk Comments

Honeywell (NYSE: HON) has announced it will spin off the industrial conglomerate’s ADI global distribution business, Homes portfolio and transportation systems business into two publicly traded firms by the end of 2018. Darius Adamczyk, president and CEO of Honeywell, said in a statement published Tuesday the initiative comes after the company reviewed …

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Doug Wagoner to Step Down as SAIC Sector President in September; Tony Moraco Comments

Doug Wagoner, president of services and solutions sector at Science Applications International Corp. (NYSE: SAIC), will step down from his role at the Reston, Virginia-based government information technology services contractor on Sept. 1. Dan Harris, senior vice president and general manager of SAIC’s sector operations and planning, will take over as acting …

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Xerox Splits Into Digital Printing Tech, Service Businesses; Jeff Jacobson Comments

Xerox (NYSE: XRX) has officially separated into two publicly traded companies, one focused on digital printing technology and the other selling business process services. The digital print technology company will carry the Xerox name while the business process service provider will operate independently as Conduent (NYSE: CNDT), GovCon Wire reported June 2016. Xerox said Tuesday it received …

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Australia’s Defense Dept Awards $419M Contract to Leidos Subsidiary for IT Products, Services

Leidos‘ (NYSE: LDOS) Abacus Innovations Australia subsidiary has secured an estimated $418.7 contract from Australia’s defense department to provide computer equipment and accessories as well as centralized processing services to the country’s chief information officer group, ARN reported Friday. Leon Spencer writes the award runs through 2023 and follows an approximately $610 million deal that Lockheed Martin‘s (NYSE: …

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