Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.
Harris and L3 Technologies said they have agreed to combine in an all-stock merger to create a defense contractor with about $16 billion in annual sales and about 48,000 employees.
The chief executives of Harris and L3 Technologies said their proposed merger would bolster the company's role as a prime contractor and ensure the majority of its work is on fixed-price contracts.
ST Engineering last month named Tom Vecchiolla, a former Raytheon executive, to head its United States-based company, VT Systems, as it seeks growth here.
The Defense Business Board will meet Nov. 7 at the Pentagon to discuss industry-government exchanges as directed by the Fiscal Year 2019 National Defense Authorization Act, according to a Federal Register notice.
The Pentagon's use of other transaction agreements to speed acquisition is significantly changing the business environment, contracting executives said.
The Pentagon has closed the window on bidding for its potentially 10-year, $10 billion Joint Enterprise Defense Infrastructure cloud contract.
IBM has joined Oracle in protesting the Pentagon's multibillion-dollar Joint Enterprise Defense Infrastructure cloud contract, charging the Defense Department has orchestrated the competition "with just one company in mind."
Maximus said it has agreed to acquire "certain assets of General Dynamics Information Technology's large-scale, citizen-engagement centers in the U.S. Federal civilian market" for $400 million in cash.
Boeing has snagged "important wins" by capturing the MQ-25 unmanned tanker, Huey helicopter replacement and T-X trainer contracts, but will "have to demonstrate better execution" than in the past to translate those awards into improved earnings, Moody's Investors Service said.
Booz Allen Hamilton said it has appointed Michèle Flournoy to its board of directors, effective Oct. 24.
Blue Delta Capital Partners, a growth equity firm focused on the government services market, said Phil Nolan will serve as a general partner.
The National Defense Industrial Association hosts senior Navy officials at its annual expeditionary warfare conference this week, while lawmakers have scheduled one confirmation hearing for senior Pentagon nominees.
The Navy is imposing more rigorous cybersecurity requirements on contractors to protect programs and technologies it deems "critical" following an incident earlier this year in which Chinese hackers reportedly stole sensitive submarine warfare data from a Navy contractor.
The U.S. government secured $55.6 billion in arms sales in fiscal year 2018, a 33 percent increase above the previous year's total, according to the head of the Defense Security Cooperation Agency.
The Defense Department has developed an "entire generation" of weapon systems without adequately considering the cybersecurity of those platforms, according to congressional auditors.