Navy awards target contract
Filed under: Alliant Techsystems, CEi, Contract Awards, U.S. Navy, development program, training
The Navy uses a variety of targets to test new systems and also to train ship’s crew. Alliant Techsystems and CEi were awarded a contract to build the Multi-Stage Supersonic Target (MSST). This will simulate anti-ship surface-to-surface missiles. The press release says it cruises at sub-sonic speeds, but the name implies that at some point it is going over Mach 1. These kind of missiles are a dangerous threat to ships and they fly at low altitude and their speeds reduce reaction time by the air defense systems.
There is more at www.bizjournals.com.
Various suitors view Harris for takeover
Filed under: Acquisitions, Harris Corporation, IT, production program
This article discusses the situation of Harris Corporation who makes radios for the US military and various civilian applications. There business has boomed over the last few years and their size and contracts have made them a target of the larger US and European defense contractors. Unfortunately the good performance of the company has driven the stock to an all time high making an acquisition very expensive. This is especially true of concerns that with the change in US administrations that there will be a falling off in the US Defense budget. Another concern is that Harris does work on several classified programs making it difficult for foreign companies, like EADS or BAE, to purchase them. Even if it wasn’t in such a time of Congress looking askance at these kinds of acquisitions, the security requirements might be too hard.
Finmeccanica follows through
Filed under: Acquisitions, Agusta Westland, Congress, DRS Technologies, Finemeccanica, IT, Italy, production program
Bump - Fresh off good financial reports for the quarter, EADS is now looking at DRS Technologies as well. See an article here. This makes it sound like DRS might be a good buy.
As rumored this weekend Finmeccanica bought DRS today. The deal is for around $5 B. See an article here. This is the biggest acquisition so far by an European company. DRS has been an attractive take over target for a few years, one of the reasons its stock was so high. If this deal can make it through the necessary regulatory and legal review it will be quite stunning. Prior to this BAE and EADS had been doing smaller acquisitions, under a $1B. In today’s political environment due to the KC-45 deal and it being an election year it should be interesting to see Congress’s reaction.
Looking to buy DRS
Filed under: Acquisitions, Finemeccanica, Italy, SETA, production program
This article discusses the idea that Finmeccanica, the Italian defense conglomerate, is looking at DRS Technology for an American acquisition. Like EADS and BAE the Italian company has been expanding its presence in the US. Its helicopter arm, Augusta Westland, won the VH-71 Presidential helicopter teamed with Lockheed Martin and is also trying to win the CSAR-X recompete post-protest. DRS which makes advanced sensors and electronics while providing SETA services has long been an attractive take over target. It’s stock though has done very well recently and for Finmeccanica to buy it would require a substantial investment. Read more
Riste of the Machines: Do Automated Weapons Threaten Humanity?
According to University of Sheffield professor Noel Sharkey, an artificial intelligence expert, “Increasingly autonomous, gun-totting robots developed for warfare could easily fall into the hands of terrorists and may one day unleash a robot arms race.” Read more
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