Defense Business Briefing -- Sept. 25, 2018

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

This week's top story

MAG Aerospace looks for adjacencies as it plots growth path

MAG Aerospace, founded less than a decade ago, is seeking growth, hoping to expand into adjacencies and build a larger international business, according to its chief executive.

News & notes

L3 acquires ASV Global

In a bid to boost its unmanned maritime business, L3 Technologies said it has acquired ASV global, an unmanned surface vessel and autonomous vessel control systems company.

Northrop Grumman bolsters presence in Salt Lake County

Northrop Grumman said late last week it has added 30 jobs at its composite manufacturing facility in Salt Lake County, UT, and plans to add 100 total jobs over the next several years.

Pentagon announces public meeting on progress payment rates

Following an industry outcry over a proposed change to progress and performance-based payment rates, the Defense Department said it will host a public meeting Oct. 10 "to obtain views of experts and interested parties in Government and the private sector."

Defense industry groups push back on DOD plan to reduce progress payments

Defense industry organizations are criticizing a Pentagon proposal to reduce progress payments as disruptive and out of line with congressional intent.

New L3 executives promise more integrated approach

NATIONAL HARBOR, MD -- Two L3 Technologies executives, both of whom joined the contractor this year, said the company's more integrated approach would open up opportunities, particularly in maritime work and in the international market.

Following Engility deal announcement, Moody's lowers SAIC's rating outlook

Moody's Investors Service said it has lowered Science Applications International Corp.'s rating outlook to negative from stable following the contractor's announcement it will buy Engility.

Appointments & promotions

Lockheed Martin promotes Mullins

Lockheed Martin said it has named Robert Mullins senior vice president for corporate strategy and business development, succeeding Stephanie Hill.

Pentagon picks former Symantec CEO, China report co-author to lead Defense Innovation Unit

The Pentagon is bringing on the former CEO of cybersecurity firm Symantec and co-author of an influential report on China's technology transfer strategy to serve as the new head of the Defense Innovation Unit.

L3 promotes Davis

L3 Technologies said it has named retired Air Force Lt. Gen. C.R. Davis senior vice president of L3 International, effective immediately.

SOS International hires Haney

SOS International said it has named Michael Haney chief information officer.

What's happening

The week ahead

The House returns in session this week to consider the fiscal year 2019 defense spending "minibus" and senior Pentagon officials are scheduled to speak at congressional hearings and conferences around the Washington area.

For Inside Defense subscribers

House positioned to send defense spending bill to Trump this week

The House returns to session this week eyeing a vote on a $675 billion defense appropriations bill that has already cleared the Senate and must be signed into law by Oct. 1 to prevent a partial government shutdown.

Defense intel chief wants new cloud database within three years

The Defense Intelligence Agency wants to upgrade its legacy database with a machine-assisted, cloud-based system and seeks to hit initial operational capability within the next three years, preferably two, according to DIA Director Lt. Gen. Robert Ashley.