Defense Business Briefing -- June 5, 2018

Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.

This week's top story

With Polaris Alpha under its belt, Parsons seeks growth in federal market

Parsons last month picked up Polaris Alpha, a significant step in its effort to accelerate the growth of its federal business.

News & notes

AeroVironment divests efficient energy systems business

AeroVironment has agreed to sell its efficient energy systems business segment to Webasto Group for $35 million.

GAO sustains Oracle's protest against REAN Cloud production agreement

The Government Accountability Office has ruled in favor of a protest from Oracle America against the Defense Department's award of an other transaction agreement to REAN Cloud, potentially further dialing back what was once a nearly $1 billion deal.

New public company Perspecta begins trading

Perspecta, the company created by combining DXC's U.S. public-sector unit with Vencore and KeyPoint Government Solutions, began trading on the New York Stock Exchange under the ticker symbol "PRSP."

Cubic completes divestiture of global defense services business

Cubic has closed the sale of its Cubic Global Defense Services business to Valiant Integrated Services.

Petters: Huntington Ingalls won't 'get too far ahead of our headlights'

The two-year budget deal, which covers fiscal years 2018 and 2019, is set to boost shipbuilding funds, but Huntington Ingalls is focused on whether that increase will be sustained beyond that window, the company's chief executive said.

Boeing HorizonX invests in Agylstor

Computational storage system developer Agylstor has received an investment from Boeing's innovation cell.

Hewson: Lockheed to continue to invest in directed energy, hypersonics

Lockheed Martin will continue to focus on several key areas of innovation, from directed energy to hypersonics to digital manufacturing, the contractor's chief executive said.

ManTech opens new logistics center in Charleston

ManTech International said it is formally opening a new logistics center to support the Mine Resistant Ambush Protected vehicle program.

Inchcape Shipping Services to pay $20 million to resolve overbilling allegations

Inchcape Shipping Services and subsidiaries have agreed to pay $20 million to resolve allegations they knowingly overbilled the Navy, the Justice Department said.

Appointments & promotions

Iyer picked to lead IAI North America

Israel Aerospace Industries has named Swami Iyer chief executive of its U.S.subsidiary, known as IAI North America.

BAE hires Trainer

BAE Systems' U.S. business has named Peter Trainer vice president and general manager of its Air Force solutions unit.

What's happening

The week ahead

The Senate Armed Services Committee is expected to release a detailed copy of its fiscal year 2019 defense authorization bill this week, while senior Pentagon officials are scheduled to speak at a variety of events in the Washington area.

For Inside Defense subscribers

Senate legislation pushes DOD on emerging technologies

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.