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  • French firm makes moves to fund cybersecurity expansion

    3 juillet 2018 | International, C4ISR

    French firm makes moves to fund cybersecurity expansion

    By: Pierre Tran Communications & Systèmes, a specialist in mission critical systems, launched July 2 a capital increase to raise €10.2 million (U.S. $11.9 million) and finance an announced expansion in European defense and security. The rights issue is intended to raise finance for a mergers and acquisition plan, dubbed Plan Ambition 2021, and follows the approval June 26 by a CS shareholders meeting for the acquisition of Novidy's, a cybersecurity company. “I am rather delighted. This is a step forward,” CS CEO Eric Blanc-Garin told Fifth Domain July 2. “The capital increase will enlarge the shareholder base, bring in more institutional investors and improve the stock liquidity.” The main aim is to fund the company's expansion by mergers and acquisition. “We have targets; we are in active discussion,” he said, when asked if CS has a list of companies in its M&A plan. An issue of new stock is intended to raise €10.2 million, which could rise to €11.5 million if the offer meets demand from the stock market. The new stock will be priced at €5.90 per share, a 22.2 percent discount on the closing price June 28. Current shareholders are offered two new shares for every 25 shares held. A core shareholder, Sopra Steria Group, has committed to subscribe to the stock issue. Sopra Steria holds 10.36 percent of CS and has pledged to inject €1.1 million into the company by exercising its preferential rights. “This capital increase will allow CS to have the means necessary to realize other operations of external growth with priority in Europe in the growth sectors of defense and civil security, space and cybersecurity,” the company said in a statement. Current shareholders will have a preferential right for subscribing to the stock issue. The shareholders meeting approved the capital increase, which had been announced as a second step in the Plan Ambition 2010 and follows the agreed offer for Novidy's. The acquisition of Novidy's boosts CS's annual sales in cybersecurity to €40 million, with the sector accounting for 20 percent of the company's total revenue, the company said in a June 26 statement. “We are delighted that our shareholders have unanimously approved this acquisition, which allows CS to mark a new stage in its development,” Blanc-Garin said in the statement. “This is the first significant step in our strategic plan, Ambition 2021.” https://www.fifthdomain.com/industry/2018/07/02/french-firm-makes-moves-to-fund-cybersecurity-expansion/

  • GE and ATEC Vying for U.S. Army Helicopter Engine Program

    16 octobre 2018 | International, Aérospatial

    GE and ATEC Vying for U.S. Army Helicopter Engine Program

    General Electric [GE] and Advanced Turbine Engine Company (ATEC) touted the capabilities of their respective engines in the quest by the U.S. Army to find new engines for the AH-64 Apache and UH-60 Black Hawk fleets under the Improved Turbine Engine Program (ITEP).ATEC... http://www.defensedaily.com/ge-atec-running-hot-us-army-helicopter-engine-upgrades/

  • COVID-19 News: Virus Hurting Army Small Businesses

    1 mai 2020 | International, Aérospatial, Naval, Terrestre, C4ISR, Sécurité

    COVID-19 News: Virus Hurting Army Small Businesses

    By Connie Lee The COVID-19 pandemic is putting particular stress on the Army's second- and third-tier suppliers, said the service's secretary April 30. The Army is racing to ensure its manufacturing supply chain is able to stay afloat amid economic challenges posed by the virus, said Ryan McCarthy. “Some of these are small companies [that have] 15,000 people, and you get a couple people sick, you shut the whole company down,” he said during a virtual event hosted by Brookings Institution. The supply chain will "be a challenge for us months and months ahead.” The pandemic is also hurting overseas manufacturing in areas such as Mexico, Europe and East Asia, where the Army has little influence, he noted. The service is working with the State Department to figure out how to keep overseas workers employed and keep the supply chain running, he said. “We are limited in our ability to affect them and get them back to work,” McCarthy said. “It presents challenges that are far beyond our reach and ... influence, so we're going to have some real heart-to-hearts with manufacturers going forward.” Despite these issues, the Army is continuing to prioritize modernization, he said. Army Chief of Staff Gen. James McConville said the service is moving forward with weapons assessments, noting that it was recently able to conduct a successful hypersonic weapons test. As part of its plan to keep up with great power competition, the service is pursuing 31 new signature systems. “Over half of our procurement budget is going towards these new weapon systems,” McCarthy said. “We've got to put them into formation. Much of our iron is 50 years old. That probably is the prime area where we put the most energy.” Meanwhile, the Army is collaborating with other organizations in search of a vaccine. There are 10 to 15 top potential vaccine candidates worldwide that are in various stages of maturity, McCarthy said during a Pentagon briefing the same day. To speed up the timeline, the service plans on investing in the ones that seem to be moving the fastest, he noted. “We can double down and invest in the fastest horse, if you will, in this 15 candidate race, and then that compresses the timeframe that will ultimately get you to the answer and bring a vaccine to life,” he said. “You'll hear ranges on how fast it can go.” Some of these vaccines are currently in human trials, with the bulk of the work slated for summer and early fall, he noted. “It's moving faster than probably any point in history because of the extraordinary collaboration that's going on today,” he said. However, this may involve accepting some risks in the process, McConville noted at the briefing. “You can save time by taking risks,” he said. “You may get ready to produce something, and that horse may not get to the final race and that may not be the most efficient use of money, but by taking risks, you can really move things very, very quickly.” https://www.nationaldefensemagazine.org/articles/2020/4/30/covid-hurting-army-small-businesses

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