Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.
Maxar says it will retain geostationary communications satellite business, but on a 'much smaller scale'
Maxar Technologies said it has opted to retain its geostationary communications satellite business, which last year it said was potentially for sale.
The Pentagon inspector general, in a new report, finds that TransDigm earned $16.1 million in excess profit for 46 parts sold to the Defense Logistics Agency and the Army for $26.2 million between 2015 and 2017.
Science Applications International Corp.'s "Innovation Factory," established last year, marks the first step in the company's effort to adapt to a faster pace for defense technology development, the contractor's chief technology officer said.
Kratos Defense & Security Solutions said it has acquired an 80.1 percent interest in Florida Turbine Technologies and FTT Core, which specialize in advanced turbine engines, for $60 million.
Kratos Defense & Security Solutions said sales in its most recent quarter reached $164.4 million, down slightly from the $166.3 million in sales it reported during the same three-month period a year earlier.
ManTech International said today it has agreed to buy Kforce Government Solutions for $115 million in cash.
KBR said sales during the most recent quarter in its government services group hit $984 million, up 78 percent from the same three-month period a year earlier.
Vectrus said sales in its most recent quarter reached $308 million, up 14 percent from the same three-month period a year earlier.
Some of the U.S. military's top combatant commanders are scheduled to testify on Capitol Hill this week, while major defense companies report quarterly earnings.
White House officials implementing a new executive order on artificial intelligence say their aim is to remove regulatory barriers for private industry to make advances in AI, with a particular focus on making up for China's advantage in data access.
Pentagon increasing collaboration with private sector, but military won't be 'panacea' in cyberspace
The Defense Department is increasing collaboration in cyberspace with the private sector through several "pathfinder" projects, but the military should not step in to solve security issues that are largely the responsibility of private industry, according to a DOD official.