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Tag Archives: Ultra Electronics

Cerberus Completes Purchase of Sparton; Dev Kapadia Quoted

Cerberus Capital Management completed its purchase of Sparton Corp., a defense and aerospace electromechanical device manufacturer, in a cash transaction worth approximately $18.50 per share. The deal was initially announced in mid-December. Sparton said Monday it stopped trading on the New York Stock Exchange following completion of the sale. Dev …

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Brian Cunningham Named Salesforce Public Sector Strategic Account Exec

Brian Cunningham, a former senior manager at Accenture (NYSE: ACN), has joined Salesforce (NYSE: CRM) as strategic account executive of the cloud services provider’s public sector business, FedHealthIT reported Thursday. Before Accenture, he served in business development positions at Performix Consulting and Technatomy. He previously worked as director of business capture at Ultra …

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Navy Taps Lockheed, ERAPSCO for Potential $221M Sonobuoy Supply IDIQ

ERAPSCO and Lockheed Martin (NYSE: LMT) have been awarded spots on a potential $220.8M contract to supply the U.S. Navy with sonobuoys. The service intends to buy up to 18K AN/SSQ-125A units through the issuance of delivery orders under the indefinite-delivery/indefinite-quantity contract, the Department of Defense said Thursday. ERAPSCO, a joint …

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Cerberus to Acquire Sparton; Tarek Ajouz Quoted

New York-based private equity firm Cerberus Capital Management has agreed to pay $18.50 in cash for each outstanding share of Sparton’s (NYSE: SPA) common stock. Sparton said Wednesday its board of directors cleared the transaction, which is expected to conclude in the first quarter of calendar year 2019. Tarek Ajouz, a managing director …

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Swami Iyer Appointed CEO of Israel Aerospace Industries’ US Subsidiary

Swami Iyer, formerly president of Ultra Electronics‘ 3eTI subsidiary, has joined Israel Aerospace Industries‘ U.S. subsidiary as CEO. The two-decade industry veteran will lead operations of IAI North America and its subsidiaries that include Stark and ELTA North America, the aerospace company said Monday. Iyer previously served as vice president of …

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Ultra Electronics, Sparton Call Off Merger

Schaumburg, Illinois-based military electronics manufacturer Sparton (NYSE: SPA) and U.K.-based defense contractor Ultra Electronics have decided to abandon their $234 million merger agreement because of antitrust concerns from the Justice Department. Sparton said Monday it plans to resume negotiations with parties that previously showed interest in an acquisition deal and can immediately execute …

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6 Companies Form Team to Pursue Canadian Surface Combatant Procurement Contract

TYSONS CORNER, VA, Nov. 30, 2017 — BAE Systems, CAE, L3 Technologies (NYSE: LLL), Lockheed Martin (NYSE: LMT), Maxar Technologies (NYSE: MAXR) and Ultra Electronics have teamed up in a bid to develop Canada’s future surface combatant vessels, ExecutiveBiz reported Wednesday. Lockheed said Tuesday the group called “Canada’s Combat Ship Team” has offered …

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Foreign Investment Committee Completes Ultra Electronics-Sparton Transaction Review

The Committee on Foreign Investment in the U.S. has finalized its review of the proposed acquisition of Schaumburg, Illinois-based electromechanical technology company Sparton (NYSE: SPA) by U.K.-based defense and aerospace contractor Ultra Electronics. Ultra said Monday it signed a timing agreement with the Justice Department and that the deal is still subject to antitrust …

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ERAPSCO Awarded $220M Navy Sonobuoy Contract Modification

ERAPSCO has received a three-year, $219.8 million contract modification to manufacture 166,500 signal underwater sound sonobuoys for U.S. Navy anti-submarine warfare missions. The Defense Department said Tuesday the company will supply AN/SSQ 36, AN/SSQ-53, AN/SSQ-62, AN/SSQ-101, AN/SSQ-125 and MK-84 sonobuoy units to the service branch. Contract work will occur in Florida and Indiana …

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General Atomics Expands Industry Team to Address Australian RPA Requirement

TYSONS CORNER, VA, Sept. 8, 2017 — A General Atomics business unit has added five more industry partners to support work on an Australian government project that aims to develop a medium-altitude, long-endurance remotely piloted aircraft, ExecutiveBiz reported Thursday. The company said Wednesday the new members of the General Atomics Aeronautical Systems-led Team Reaper …

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