Amazon taps SpaceX's Falcon 9 rocket to help launch Kuiper satellites | Reuters

On the same subject

• 

  May 6, 2020 | International, C4ISR

  Leidos completes acquisition of L3Harris Technologies’ Security Detection and Automation Businesses creating a comprehensive, global security and detection portfolio

  (Reston, Va.) May 4, 2020–Leidos (NYSE:LDOS), a FORTUNE® 500 science and technology leader, today announced that it has completed the acquisition of L3Harris Technologies' (“L3Harris”) Security Detection and Automation businesses, for approximately $1 billion in cash. The transaction was previously announced on Feb. 4, 2020. The acquired businesses provide airport and critical infrastructure screening products, automated tray return systems and other industrial automation products. They will operate within the Leidos Civil Group, led by Jim Moos, Civil Group president. Combined with Leidos' existing cargo and baggage screening product lines, Leidos now goes to market with a global security detection and automation footprint of more than 24,000 systems deployed in more than 120 countries. Leidos will continue to serve global customers in the aviation, transportation, government and critical infrastructure markets. “In line with our mission of making the world safer, healthier and more efficient, this security detection and automation acquisition furthers our important work in the secure movement of people and commerce globally,” said Leidos Chairman and CEO Roger Krone. “We are excited to support critical infrastructure wherever it is needed, and to help transform the global security marketplace.” “This deal expands our scope and scale in securing ports and borders, enhancing passenger movement in airports of the future, and fortifying infrastructure for national security and public venues,” said Moos. “We are pleased to welcome more than 1,200 L3Harris employees around the world to the Leidos team, who share our deep commitment of providing our customers with a fully-integrated security technology ecosystem.” Compelling Strategic and Operational Benefits Expands Product Portfolio in High-Growth, Global Security Market: The closing of this acquisition creates a comprehensive and cohesive security detection platform by adding technologies including checkpoint CT scanners, people scanners, explosives trace detectors, checked baggage screeners, and automated tray return systems (ATRS) to Leidos' security detection portfolio. The combined solutions enhance the company's offerings in an evolving global security product market, which allows diversification beyond the federal budget and positions the company for long-term growth. Increased International Presence Diversifies Revenue: This business expands customer penetration across aviation, ports, borders, and critical infrastructure internationally and increases Leidos' international security products revenue more than six-fold. The deal brings Leidos products into 75 additional countries. Growth and Innovation Accelerated by Scale: The integration of these new businesses into a comprehensive portfolio enables Leidos to leverage its core technical strengths, in-depth biometrics capabilities, and global sales channels to rapidly develop and deliver new solutions. Technology investments across the combined portfolio will help accelerate innovation to address emerging and evolving threats and improve service efficiency for customers. Transaction Details The transaction is expected to be immediately accretive to Leidos' revenue growth, EBITDA margins, and non-GAAP diluted earnings per share upon closing. Cash consideration of approximately $1.0 billion plus related transaction costs was funded through a combination of excess cash on hand and a two-year term loan. Advisors Leidos retained Credit Suisse Securities (USA) LLC as financial advisor, and Fried, Frank, Harris, Shriver, & Jacobson LLP and DLA Piper as legal advisors in connection with the transaction. About Leidos Leidos is a Fortune 500® information technology, engineering, and science solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, homeland security, civil, and health markets. The company's 37,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Va., Leidos reported annual revenues of approximately $11.09 billion for the fiscal year ended January 3, 2020. For more information, visit leidos.com. Cautionary Statement Regarding Forward-Looking Statements The forward-looking statements contained in this release involve risks and uncertainties that may affect Leidos' operations, markets, products, services, prices and other factors as discussed in filings with the Securities and Exchange Commission (the “SEC”). Without limiting the foregoing, forward-looking statements often use words such as “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “seek,” “project,” “target,” “goal,” “may,” “will,” “would,” “could,” “should,” “can,” “continue” and other words of similar meaning in connection with a discussion of the transaction or future operating or financial performance or events. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental and technological factors. Accordingly, there is no assurance that the expectations of Leidos will be realized. This release also contains statements about the acquisition of the security detection and automation businesses of L3Harris that are based on assumptions currently believed to be valid but involve significant risks and uncertainties, many of which are beyond Leidos' control, which could cause Leidos' actual results to differ materially from these forward-looking statements with respect to the transaction, including, anticipated tax treatment, ability to retain key personnel, the dependency of the transaction on market conditions and the impact of a change in market conditions on the value to be received in the transaction, unforeseen liabilities, future capital expenditures, uncertainty as to the expected financial condition and economic performance of the company following the closing, including future revenues, expenses, earnings, indebtedness, losses, prospects, business strategies for the management, expansion and growth of the company following the closing, Leidos' ability to integrate the businesses successfully and to achieve anticipated synergies, the risk that disruptions from the transaction will harm Leidos' business and the impact of the COVID-19 outbreak. While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Leidos' consolidated financial condition, results of operations or liquidity. For a discussion identifying additional important factors that could cause actual results to vary materially from those anticipated in the forward-looking statements, see Leidos' filings with the SEC, including “Management's Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in Leidos' annual report on Form 10-K for the year ended January 3, 2020, and in its quarterly reports on Form 10-Q which are available at http://www.Leidos.com and at the SEC's web site at http://www.sec.gov. The forward-looking statements contained in this release are made only as of the date of this release and are based on the information available to Leidos as of the date of this release. Readers are cautioned not to put undue reliance on forward-looking statements. Leidos assumes no obligation to provide revisions or updates to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws. View source version on Leidos : https://www.leidos.com/insights/leidos-completes-acquisition-l3harris-technologies-security-detection-and-automation

• 

  January 14, 2019 | International, Land

  Here are the four prizes Textron Systems is watching in 2019

  By: Valerie Insinna WASHINGTON — Textron Systems is focusing on the U.S. Army this year, with its chief executive naming four unmanned and small arms programs with the service as the company's “need to win” items in 2019. Speaking to reporters Jan. 10, Textron President and CEO Lisa Atherton laid out the company's top priorities: 1. Squad Mobility Equipment Transport With its recent acquisition of Howe & Howe Technologies, Textron finds itself a player in the Army's Squad Mobility Equipment Transport competition. The Army wants to buy a robotic equipment carrier that troops can load with their gear, and Howe & Howe's tracked RS2-H1 robot is competing alongside three other companies for the contract. “We believe that program will progress this year, and we look forward to moving that to low-rate production,” Atherton said. The other competitors undergoing tests with the Army and Marine Corps are the Polaris MRZR X, a four-wheeled vehicle based on the Polaris MRZR currently in service with the Marines; the General Dynamics four-wheel drive Multi-Utility Tactical Transport; and the six-wheeled HDT Global Hunter WOLF, or Wheeled Offload Logistics Follower, Army Times reported last year. Each company delivered prototypes to two Army infantry brigade combat teams and a Marine Corps unit for tests last year. “They asked us to deliver eight vehicles and then just give them to the soldiers and let the soldiers do what they will with them and basically try to break them,” Atherton said. The vehicles have now come back to Textron in good working condition, which Atherton said is a “testament to the robustness of that capability.” After a year of tests, the Army will make a decision on the way forward with the program, which could involve a downselect to a single SMET provider, Army Times has reported. 2. Robotic combat vehicle As the Army looks to replace the Bradley Fighting Vehicle with what the service is calling the Next Generation Combat Vehicle, it is also hoping to develop an unmanned tank that can accompany it into battle as a robotic “wingman.” Again, Textron's acquisition of Howe & Howe gives the company an entry point into the competition, Atherton said. “We believe that the Ripsaw is tailor-made for that,” she said, referring to the light unmanned tank developed by Howe & Howe. “So this year we will be focused on responding to the [requests for proposals] that come out for the prototypes.” Ripsaw's appearance on the show “Jay Leno's Garage” attracted Atherton's attention to Howe & Howe and laid the foundation for the company's eventual acquisition. The robotic tank has been featured in numerous TV and movie spots, including the film “Mad Max: Fury Road.” The Army previously tested it at Picatinny Arsenal in New Jersey. Atherton said Textron will make investments to improve the survivability of Ripsaw, as well as add “other innovations.” Brig. Gen. David Lesperance, who is leading the NGCV Cross-Functional Team, said in March that both NGCV and robot combat vehicle prototypes will be ready for soldier evaluations by 2020, with follow-on prototypes ready by 2022 and 2024. 3. Future tactical unmanned aerial system As the Army looks to replace its RQ-7 Shadow drones, it's testing a number of small, nondevelopmental unmanned aerial systems with the hopes of buying something off the shelf. As part of that effort, Textron was chosen to demonstrate Aerosonde HQ at Dugway Proving Ground, Utah, last month, Atherton said. Aerosonde HQ is a version of Textron's small Aerosonde UAS and includes a kit that allows it to take off and land vertically. “Our team widely exceeded the threshold requirements,” she said. “So we're very proud of what we were able to do: very rapidly integrate those techniques and procedures and technologies into the Aerosonde to be able to provide that to the Army for the future tactical UAS.” 4. Next Generation Squad Weapons Textron also believes it has strong offerings for the Army's Next Generation Squad Weapons effort, an umbrella program to replace soldiers' small arms, Atherton said. Reducing the weight of small arms is a major goal of the program, and Textron previously developed case-telescoped weapons it claims are lighter in weight and more lethal than current weaponry. “We believe we are the leaders in the case-telescoped prototypes for the Army's next-generation squad weapon with our lightweight small arms technologies,” Atherton said. The company showcased a 5.56mm light machine gun variant and a 6.5mm caseless service rifle variant at the Association of the U.S. Army's annual meeting in 2017, Army Times reported. The service has awarded contracts to Textron; FN America, LLC; General Dynamics; PCP Tactical; and Sig Sauer to build prototypes of a Next Generation Squad Automatic Rifle, or NGSAR. The prototypes are due to be delivered this year. That weapon would replace the M249 Squad Automatic Weapon, which fires 5.56mm rounds. The program also seeks to find a replacement for the M4, which it calls the Next Generation Squad Weapon Rifle, or NGSW-Rifle. Both NGSW-Rifle and NGSAR will fire 6.8mm rounds. https://www.defensenews.com/land/2019/01/11/here-are-the-four-prizes-textron-systems-is-watching-in-2019

• 

  October 5, 2023 | International, Aerospace

  UK to clear Hitachi-Thales rail signalling merger | Reuters

  Britain's antitrust regulator said it would clear Hitachi's acquisition of Thales' signalling business after the Japanese company addressed its concerns by offering to sell part of its mainline signalling business.