BUSINESS NEWS
18 Apr 08. Raytheon Company (NYSE: RTN) has acquired SI Government Solutions, a leading provider of proprietary software security solutions to the U.S. intelligence community. Terms of the transaction were not disclosed. SI Government Solutions, based in Melbourne, Fla., was founded in 2005 to
deliver targeted vulnerability assessment capabilities that protect complex
and critical information technology assets of government customers. “We are excited to add SI Government Solutions to our information security
portfolio, further strengthening our growth in this area and enabling
Raytheon to create a world-class, end-to-end information assurance and
information operations capability,” said Michael D. Keebaugh, president,
Raytheon Intelligence and Information Systems (IIS). Keebaugh noted that Raytheon has focused its efforts in the emerging cyber security market under the IIS business where expertise clearly addresses an environment of ever-changing threats. He added: “Protecting critical infrastructures is rapidly becoming one of the most complex and critical challenges our customers face today. The purchase of SI Government Solutions, combined with our earlier acquisition of Oakley Networks and existing assets, gives Raytheon even stronger capabilities to address our customers’ growing challenges.”
18 Apr 08. Ultra Electronics has bought a designer and supplier of submarine acoustic transducers and arrays. Ultra is paying $7m in cash for Harris Acoustic Products, a US company headquartered 20 miles from Ultra’s Ocean Systems business unit in Massacusetts. Both Harris Acoustic Products and Ocean Systems supply underwater acoustic transducers and arrays and after the acquisition is completed, Harris will be integrated into Ocean Systems. Harris supplies a range of transducers and sensors installed in the Virginia class of nuclear submarines used by the US navy, and also provides equipment used in mine hunting sonar systems. On a pro-forma basis Harris would have generated revenue of around $9m in 2007. (Source: City A.M.)
26 Feb 08. Nexter Systems (Giat Industries subsidiary) held a Board Meeting on Tuesday, 26th February and closed the Nexter Group consolidated accounts for the 2007 financial year. Those accounts were closed in compliance with IFRS rules.
Turnover: 587 M€
Current operating profits: 44 M€, which represent 7,4 % of turnover
Order in hand: 1.825 M€ which represents around three years of activity
Nexter Group 2007 orders intake amounted to 495 M€, compared with 780 M€ in 2006. The drop is explained by the lack of a large export order during 2007 whereas, in 2006, a contract was obtained for 76 CAESAR® artillery systems for the Middle East. Export orders thus reached in 2007 an amount of 67 M€. The 2007 domestic orders were slightly higher than the 2006 level. Nexter Group turnover in 2007 (587 M€) is decreased compared to 2006 (715 M€*). This was expected and is related to the end of the Leclerc MBT deliveries to the French Army (14 vehicles against 47 in 2006), whereas the initial VBCI and CAESAR® deliveries will only start in the second half of 2008.The main element of the 2007 financial year is the continuing improvement of the Group’s profitability. The Nexter Group operating profits were 69,9 M€. “Current operating profits” (not including non-recurring elements) reached 44 M€ in 2007 versus 42 M€ in 2006. The current operating margin was up to 7,4 % against 5.8 % in 2006. The Nexter Group’s consolidated net profits were 151,1 M€. This includes a considerable non-recurring part, due notably to the incorporation, for the first time, of future benefits related to carry forward tax deficits that have been transferred from Giat Industries to Nexter Systems. These profits also take into account the high level of expenditures dedicated to research and development of new products (17 % of turnover against 13 % in 2006). Nexter Group orders in hand amount to 1.825 M€ and represent arou