September 1, 2021 | International, Aerospace
So you want to fly a drone over a nuclear weapons lab'¯'¦
U.S. authorities have issued a warning about the airspace over Los Alamos National Laboratory.
March 30, 2020 | International, Aerospace, Naval, Land, C4ISR, Security
Raytheon-UTC merger wins approval, pending divestitures
By: Jill Aitoro
WASHINGTON — The merger between two defense giants got the green light from the U.S. Department of Justice, under the condition that divestitures already in the works move forward and another piece of business is shed.
According to a March 26 announcement from the DOJ, United Technologies Corp. and Raytheon will need to divest Raytheon's military airborne radios business as well as UTC's military global positioning systems and large space-based optical systems businesses in order to proceed with the proposed merger.
The divestitures would satisfy a proposed settlement from the department's Antitrust Division of a civil antitrust lawsuit to block the proposed Raytheon-UTC merger.
BAE Systems agreed in January to buy Collins Aerospace's military global positioning system business — which is owned by parent firm UTC — for $1.93 billion and Raytheon's airborne tactical radios business for $275 million.
“Today's settlement protects the American taxpayer by preserving competition that leads to lower costs and higher innovation in critical military and defense products,” said Assistant Attorney General Makan Delrahim of the Antitrust Division. “The merger, as originally proposed, would have eliminated competition in the supply of military airborne radios and military GPS systems, and would have positioned the merged firm to harm rivals capable of making key components for reconnaissance satellites. These horizontal and vertical concerns are resolved by the Division's structural remedy, which includes the divestiture of three separate business units.”
Under the terms of the proposed settlement, the companies need to divest Raytheon's military airborne radios business, including facilities in Fort Wayne, Indiana, and Largo, Florida; as well as UTC's military GPS business to BAE Systems or another approved acquirer.
The proposed settlement would also require the divestiture of UTC's optical systems business, including a facility in Danbury, Connecticut, to an approved acquirer.
Raytheon and UTC announced in June 2019 plans to officially merge into a new entity called Raytheon Technologies Corporation, with the deal at the time expected to close during the first half of 2020.
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November 7, 2024 | International, C4ISR, Security
North Korean Hackers Target Crypto Firms with Hidden Risk Malware on macOS
North Korean hackers launch Hidden Risk malware targeting macOS devices in crypto firms via fake PDFs.
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January 2, 2019 | International, Aerospace
Israel Aerospace considering investment in drone maker Aeronautics
JERUSALEM (Reuters) - State-owned defense contractor Israel Aerospace Industries (IAI) [ISRAI.UL] said on Tuesday it was in talks to invest in local drone maker Aeronautics (ARCS.TA). The talks were at an early stage, IAI said, and no financial details were disclosed. Meanwhile Aeronautics, which was searched on Monday by Israel Securities Authority investigators, said separately it was also talking to another unidentified group regarding the sale of its 50 percent stake in the surveillance and reconnaissance company Controp Precision Technologies. In August, Aeronautics rejected a 430 million shekel ($115 million) acquisition offer from IAI rival, state-owned Rafael Advanced Defense Systems, and businessman Avihai Stolero. Israel-based Aeronautics manufactures unmanned aerial vehicles for military surveillance and defense purposes, as well as for the commercial sector. On Monday, investigators from the market regulator searched Aeronautics' office, the company said. A court has placed a gag order on details of the investigation. It was not the first time Aeronautics has been probed by Israeli authorities. In August 2017, Aeronautics said the Defence Ministry had suspended the marketing and export license for one of the firm's attack drones to a single, significant customer in a foreign country. It denied it was at fault. Israeli media at the time reported that the ministry had opened an investigation into Aeronautics over whether during a demonstration in Azerbaijan one of its drones was used to attack a military position in the neighboring country of Armenia, and if so, who was at fault. In November that same year Israeli police said they were investigating one of the drone maker's deals but did not give details. Reporting by Ari Rabinovitch; Editing by Alison Williams https://www.reuters.com/article/us-aeronautics-ltd-m-a-il-aerospace-ind/israel-aerospace-considering-investment-in-drone-maker-aeronautics-idUSKCN1OV1JL