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

With $100 million in new funding, Lockheed Martin Ventures seeks to accelerate pace

Lockheed Martin Ventures, the venture capital arm of Lockheed Martin that was rebooted two years ago, is set to receive another $100 million in funding following the new tax law, the company said.

New Mountain Capital invests in MAG Aerospace

MAG Aerospace has teamed up with private-equity firm New Mountain Capital as it pursues growth.

FTC to require Northrop to take additional steps on solid-rocket motors following Orbital deal

The Federal Trade Commission is imposing conditions on Northrop Grumman to ensure continued competition in the missile systems market following Northrop's acquisition of Orbital ATK.

Northrop-Orbital deal cleared by FTC

Northrop Grumman said the Federal Trade Commission has cleared its proposed acquisition of Orbital ATK.

S&P lowers Northrop's corporate credit rating following Orbital ATK deal

S&P Global Ratings has lowered its long-term corporate credit rating on Northrop Grumman, arguing the contractor's acquisition of Orbital ATK has significantly deteriorated its credit metrics.

Leidos to divest commercial cybersecurity business

Capgemini has agreed to acquire Leidos Cyber, the contractor's commercial cybersecurity arm.

Contracting CEOs predict new competitors

The defense and intelligence market could be upended by non-traditional new participants, two chief executives said during a panel.

ManTech taps Tait to lead mission solutions group

ManTech International has named Matt Tait president of its mission solutions and services group, effective July 1.

SOS International hires Johns

SOS International has named John Johns vice president for business development.

MITRE Corp. promotes Cook

The MITRE Corp. has named Jim Cook vice president for strategic engagements and partnerships.

LMI names Welsh CFO

LMI has named Bettina Garcia Welsh its chief financial officer.

The week ahead

The full Senate is expected to debate the fiscal year 2019 defense authorization bill this week, while the House Appropriations Committee will vote on the defense spending bill.

Pentagon chief technologist details new innovation efforts

The Defense Department is making headway on several innovation efforts, including rapid prototyping programs and the implementation of commercial software practices in major defense programs like the F-22 fighter and the Cobra Dane radar, according to the Pentagon's top technology official.

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.