BAE Systems North America has agreed to acquire STI Government Systems, a division of Honolulu-based STI Industries Inc., for $27 million in cash, the company said. The deal is expected to close in 45 days.
The proposed $2.2-billion merger of defense IT giants Lockheed Martin Corp. and Titan Corp. has been thrown into jeopardy, with the deal now pending the outcome of a Justice Department inquiry into bribery allegations.
Titan Corp. shareholders will vote April 12 on whether to accept Lockheed Martin Corp.'s offer to buy the company, but allegations that Titan made illegal payments to foreign officials could still scuttle the deal.
The continuing strength in merger and acquisition activity in government IT and defense services must be viewed with a clear understanding that acquisitions are a strategic necessity.
CACI International Inc.'s proposed acquisition of American Management Systems Inc.'s defense unit will position CACI for work helping the Defense Department manage its outsourcing and transformation projects, the company's top executive said.<br>
Industry and investors sat up and took notice of CGI Group Inc.'s proposed purchase of American Management Systems Inc. and the sale of AMS' defense and intelligence group to CACI International Inc.
SafeNet will use Rainbow Technologies' resources to "delve deeper" into the two companies' services with the departments of Defense and Homeland Security, an executive says.
Defense IT giants Lockheed Martin Corp. and Titan Corp. are working to complete a merger that has been delayed by allegations that Titan consultants made improper payments to officials abroad.
Calibre Inc. of Alexandria, Va., today acquired Strategic Management Initiatives Inc., a management consulting firm that provides strategic management and engineering analysis services to the government in areas such as environmental services and nuclear engineering and licensing.
In a blow to Oracle Corp.'s hostile attempt to take over software rival PeopleSoft, the federal government sued to block the $9.4 billion deal today.<br>
Commercial spending for research and development has increased substantially in recent years. For every federal dollar invested in this area, business now invests about $2. As a result, the private sector now plays an increasingly important role in developing new technologies and influencing acquisitions for some of the most critical federal programs.
The Windsor Group LLC has launched an investment fund that will provide both cash and expert advice to small and midsized government services companies.
