company merge
Lockheed Martin has entered into a definitive agreement to acquire Sikorsky Aircraft, a world leader in military and commercial rotary-wing aircraft, for $9.0 billion. The price is effectively reduced to approximately $7.1 billion, after taking into account tax benefits resulting from the transaction.
“Sikorsky is a natural fit for Lockheed Martin and complements our broad portfolio of world-class aerospace and defense products and technologies,” said Marillyn Hewson, Lockheed Martin chairman, president and CEO. “I’m confident this acquisition will help us extend our core business into the growing areas of helicopter production and sustainment. Together, we’ll offer a strong portfolio of helicopter solutions to our global customers and accelerate the pace of innovation and new technology development.”
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CACI International Inc announced today that it has signed a definitive agreement to acquire Six3 Systems, Inc., a premier provider of highly specialized support to the national security community in the areas of cyber and signals intelligence; intelligence, surveillance, and reconnaissance; and intelligence operations, from private equity firm GTCR. The transaction will expand CACI's high-growth Cyberspace market as well as build on CACI's capabilities in its high-volume C4ISR (command, control, communications, computers, intelligence, surveillance, and reconnaissance) and Intelligence market areas. Six3 Systems employs approximately 1,600 professionals worldwide, and its calendar year 2013 revenue is expected to be approximately $470 million. The purchase price is $820 million and closing is anticipated during CACI's fiscal second quarter, ending December 2013, subject to regulatory approvals.
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Rockwell Collins, Inc. announced it has reached a definitive agreement to acquire ARINC Incorporated, a portfolio company of The Carlyle Group, and a leader in communications and information processing solutions for the commercial aviation industry, for $1.39 billion. The transaction will bring together two leading players in the growing field of aviation information management, combining ARINC’s trusted networks and services with the industry leading avionics and cabin technologies developed by Rockwell Collins.
"Strategically, this acquisition is a natural fit for Rockwell Collins,” said Kelly Ortberg, Rockwell Collins, Chief Executive Officer and President. “It accelerates our strategy to develop comprehensive information management solutions by building on our existing information-enabled products and systems and ARINC's ground–based networks and services to further expand our opportunities beyond the aircraft."
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BAE Systems is rushing to wrap up negotiations with customers in the Middle East as Europe’s largest defense company seeks to regain its footing following a failed merger with European Aeronautic, Defence & Space Co. (EAD)
The British weapons maker is in advanced talks with Oman to negotiate a deal that BAE said last month it wants to complete by year-end. Among the sticking points are Omani demands for in-service support.
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EOD Technology announced last week that it has merged with Sterling International to form Sterling Global Operations.
The new company will be based in Lenoir City, and EODT CEO Matt Kaye will serve as president and CEO of the new venture.
Kaye said Wednesday that the combined companies form "the world's preeminent conventional munitions disposal organization."
When asked about the benefits of the deal to EODT, Kaye said that "it really diversifies our customer base. It strengthens our footprint around the world and provides us greater breadth and depth of resources."
EODT got its start in 1987 as a company specializing in explosive ordnance disposal, and for years specialized in cleaning up contamination at former U.S. military sites. During the George W. Bush administration, EODT branched out into security operations and eventually became a major player in that market.
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Fluor Corporation announced today that it has formed a new joint venture with AG&P, a Philippines-based company that specializes in modular engineering and fabrication services. The new entity, called AG&P Fluor Joint Venture Company, Inc., will provide a full range of integrated engineering, fabrication, module assembly and construction services to Fluor’s clients.
“Consistent with our growth strategy, this new venture with AG&P enables Fluor to provide our clients with an integrated construction model that is both cost effective and will help reduce construction schedules thereby increasing our clients’ ability to bring their project to completion faster,” said Peter Oosterveer, president of Fluor's Energy & Chemicals Group. “Fluor and AG&P have a long-standing business relationship and history of working together in the Philippines over the past 25 years. We look forward to strengthening this relationship to improve our clients’ projects and meet their business needs.”
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