This week, U.S. Defense Secretary Leon Panetta removed the F-35B short take-off-and-vertical-landing (“STOVL) from probation. The F-35B had been placed on probation last year after it was troubled by schedule delays and cost overruns. Though there may not be significant production ramp-ups, the F-35B variant has caught up with the Air Force and Navy versions of the aircraft.
The Pentagon released a list of 30 priority capabilities it needs in order to conduct war anywhere on the globe in the future. The document, officially called the Joint Operational Access Concept (JOAC), outlines a more flexible integration of space and cyberspace operations into the traditional air-sea-land battle space. The 30 capabilities listed in the document are focused on command and control, intelligence, fires, movement and maneuver, protection, protection, sustainment, information and engagement. The document calls for more integration between the services at lower levels
Finmeccanica SpA (Up 16.8%) – Shares rose this week as subsidiaries of the company received positive news. Avions de Transport Regional (turbo props) announced its highest order intake in its 30-year history of 157 planes last year; AgustaWestland (helicopters) signed a EUR90 million (roughly $117 million) deal to supply 5 helicopters and 14 upgrades to the polish defense Ministry; and DRS Technologies announced award of a one year $48.4 million option.
OSI Systems Inc. (Up 11.1%) – Shares rose this week after the company announced that its security division, Rapiscan Systems, was awarded a six year authorization to provide inspection services throughout Mexico. The company is the sole provider for this agreement valued at approximately $400 million.
NCI, Inc. (Down 30.7%) – Shares fell this week after the company reported poor FY2012 guidance. NCI’s current expected revenue range for FY2012 is $340 million – $360 million, compared to the company’s previous guidance for FY2011 of $556 million – $564 million.
Symantec Corp. to acquire LiveOffice LLC, a provider of cloud-based email archiving, compliance, discovery, and continuity solutions for Fortune 500 companies in the U.S. for $115 million. The acquisition will allow Symantec to help organizations store, manage, and discover unstructured information including on-premise and cloud-based information sources such as email, instant message, social media and file sharing.
Lockheed Martin acquires Procerus Technologies, a company specializing in autopilot and other avionics for micro unmanned aerial systems. The acquisition expands Lockheed Martin’s capabilities into the small unmanned aerial vehicle market and helps the Company meet its customers’ strategic priorities. Terms of the deal were not disclosed.
Vishay Intertechnology to acquire HiRel Systems LLC, a provider of high reliability transformers, inductors, coils, and power conversion products for approximately $85 million. The acquisition further enhances Vishay’s inductor portfolio, particularly in the field of custom magnetics for medical, military, aerospace and aviation.