Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.
Lockheed Martin Ventures, the venture capital arm of Lockheed Martin that was rebooted two years ago, is set to receive another $100 million in funding following the new tax law, the company said.
MAG Aerospace has teamed up with private-equity firm New Mountain Capital as it pursues growth.
The Federal Trade Commission is imposing conditions on Northrop Grumman to ensure continued competition in the missile systems market following Northrop's acquisition of Orbital ATK.
Northrop Grumman said the Federal Trade Commission has cleared its proposed acquisition of Orbital ATK.
S&P Global Ratings has lowered its long-term corporate credit rating on Northrop Grumman, arguing the contractor's acquisition of Orbital ATK has significantly deteriorated its credit metrics.
Capgemini has agreed to acquire Leidos Cyber, the contractor's commercial cybersecurity arm.
The defense and intelligence market could be upended by non-traditional new participants, two chief executives said during a panel.
ManTech International has named Matt Tait president of its mission solutions and services group, effective July 1.
SOS International has named John Johns vice president for business development.
The MITRE Corp. has named Jim Cook vice president for strategic engagements and partnerships.
LMI has named Bettina Garcia Welsh its chief financial officer.
The full Senate is expected to debate the fiscal year 2019 defense authorization bill this week, while the House Appropriations Committee will vote on the defense spending bill.
The Defense Department is making headway on several innovation efforts, including rapid prototyping programs and the implementation of commercial software practices in major defense programs like the F-22 fighter and the Cobra Dane radar, according to the Pentagon's top technology official.
The Senate Armed Services Committee wants to add $1.2 billion to the Defense Department's planned research and development funding in fiscal year 2019, as the panel's new legislation seeks to shore up DOD efforts in key technology areas like hypersonics and space constellations.