Huntington Ingalls Industries (HII) has signed an agreement to acquire defense services company Alion Science and Technology for a cash consideration of $1.65bn from Veritas Capital.
The acquisition will create more than $2.6bn in revenue products and solutions business. It will also expand capabilities, offer access to crucial contracts, cyber and data analytics, and electronic warfare-related technology development fields.
Harris Corp. and L3 Technologies Inc. said Sunday they will combine in the largest-ever defense industry merger, as the Pentagon expands budgets with an eye toward increased investment by contractors and quicker weapons development.
The two contractors agreed to a merger that will form one of the industry’s largest players, a $33.5 billion behemoth to challenge weapons makers such as Raytheon Co. and Northrop Grumman Corp. With product lines spanning communications and electronics, the newly formed L3 Harris Technologies Inc. is poised to capitalize on military spending increases under U.S. President Donald Trump.
Mission Essential announced the acquisition of Information Management Technology Corporation (IMT), a rapidly growing system integrator and software engineering firm, and the foremost experts in the dissemination of time-critical intelligence to the warfighter.
“The acquisition of IMT is a key component of our long-term growth and diversification strategy,” said Mission Essential Chairman Greg Miller, further commenting that, “after thoroughly analyzing the marketplace, it was clear that IMT would be a great value-add to the Mission Essential family as the spearhead for our C4ISR capabilities.”
