Defense Business Briefing -- June 25, 2019

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

This week's top story

DOD memo: Contracting officers must seek cost data from TransDigm and subsidiaries

The Pentagon is setting new requirements for the TransDigm Group after the Defense Department inspector general found the company was reaping excessive profits.

News & notes

Harris and L3 set June 29 closing date for merger

Harris and L3 Technologies said their planned merger will close June 29.

DOJ: Harris must divest night vision business to proceed with merger

The Justice Department said it is requiring Harris to divest its night vision business for its merger with L3 Technologies to proceed.

Parsons says it will focus on mergers and acquisitions

Parsons is focusing its capital on finding potential acquisitions in cybersecurity, intelligence, space, defense and critical infrastructure, according to its chief executive.

Acorn Growth Companies prepares to make half-dozen investments

Acorn Growth Companies, a private-equity firm exclusively focused on aerospace, defense and intelligence companies, is preparing to make about six more investments this year, according to its managing partner.

Boeing to relocate space and launch division to Florida

Boeing said it is moving the headquarters of its space and launch division from Arlington, VA, to Titusville, FL, on Florida's Space Coast.

VT Systems to rebrand

VT Systems said it will change its legal company name from Vision Technologies Systems to ST Engineering North America, effective June 30.

NDIA opposes cost and pricing data amendment

The National Defense Industrial Association said it "strongly opposes" an amendment in the House version of the fiscal year 2020 defense authorization bill that would require companies to disclose cost or pricing data for contract proposals under $2 million.

Appointments & promotions

Cubic names Melcher to board

Cubic said this week its board of directors has approved the appointment of David Melcher as lead independent director.

What's happening

The week ahead

The Senate will debate the fiscal year 2020 defense authorization bill this week, while the Pentagon gets a new acting defense secretary.

For Inside Defense subscribers

House, Senate lawmakers call for review of DOD's fixed-price contracts

The House and Senate Armed Services committees have approved legislation that would require a review of the Pentagon's use of fixed-price contracts.

Lawmakers move to increase funds for Pentagon's 5G efforts, setting up Nellis AFB as key testbed

House and Senate lawmakers are moving legislation to authorize increased funding for the Defense Department’s nascent experiments with fifth-generation wireless technologies, including a Senate bill that would set up Nellis Air Force Base as a key 5G testbed for the military.