23 Aug 05. The Allison Advanced Development Company (AADC) has changed its name to Rolls-Royce North American Technologies Inc. This new name better positions the organization as a Rolls-Royce company providing full-service advanced technology and system solutions. The company will continue to be based in Indianapolis, IN. “Our goal is to offer greater value to our customers and to do this, we needed to redefine and reposition ourselves, said Ron York, Chief Operating Officer, Rolls-Royce North American Technologies Inc. “We want to be known as a storefront for advanced R&D and technology programs, able to provide front-end technical services across all Rolls-Royce businesses. Changing our name is an important step in this mission We’ve also restructured and put improved program management tools and processes in place to better handle larger, more comprehensive projects,” continued York. For marketing purposes, the company will also use the name “LibertyWorks™”. Liberty is the name both of a current Rolls-Royce engine built in Indianapolis – the AE1107 that powers the V-22 Osprey – as well as the first aero engine built at that site. “Works” is a naming convention well-known and respected for advanced research and development in the US defense industry.
22 Aug 05. DaimlerChrysler, Other Partners Clash on Strategy. Stuttgart-based DaimlerChrysler is trying again to sell MTU Friedrichshafen, Germany’s biggest land systems and naval engine maker, industry officials say. In 2004, MTU had civilian and defense sales of €1.35bn ($1.67bn). But the automotive giant, which holds 88 percent of MTU, is being thwarted by the vetoes of two minority shareholders: the Maybach family, which holds 7.2 percent, and the Brandenstein-Zeppelin family, with 4.4 percent, a source close to the talks said. DaimlerChrysler began its effort to sell MTU in March, opening talks with German vehicle maker MAN. But in August, the families vetoed that effort, while revealing that, in January, they had begun talks to sell MTU to the U.S. investment house The Carlyle Group, in a deal that would bring more cash than the MAN deal, the source said. (Source: Defense News/MARTIN AGÜERA, MUNICH)
18 Aug 05. MZM Owner Tied To Grand Jury Probe. Veritas Capital, a New York private equity firm, announced that it will buy MZM, a Washington, D.C., defense contractor whose business has been in turmoil since its founder’s financial dealings with a congressman triggered a grand jury investigation in June. (Source: Washington Post,)
22 Aug 05. BEA Systems Inc. agreed to pay $200 million in cash to acquire Plumtree Software Inc. in order to expand its offerings for enterprise business software. BEA said it would pay $5.50 a share for Plumtree, plus assume all outstanding Plumtree stock options, for the San Francisco-based company. The deal offers Plumtree shareholders a 13% premium over the stock’s Monday closing price of $4.86 a share on the Nasdaq Stock Market. Plumtree’s software is used to develop portals for workers on corporate networks. BEA expects the acquisition will close in the fall of this year. In after-hours trading, Plumtree shares surged 54 cents, or more than 11%, to $5.40, while BEA broke even at $8.89. (Source: WSJ)
Aug 05. Intelsat Ltd., the second-largest global commercial-satellite operator, is in talks about acquiring smaller rival New Skies Satellites Holdings Ltd. for as much as $1.3 billion, potentially prompting a new round of consolidation in the sector, according to people familiar with the matter. Under way for weeks without any publicity, the high-level talks between private-equity groups that control both companies are at an early stage and still could fall apart, these industry officials said. But the discussions underscore the continuing emphasis on size and the resulting operational savings in an industry where building, insuring and launching a top-of-the-line satellite can cost as much as $250 million. The talks also ref