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18 May 10. BAE Systems today announced it has entered into a definitive agreement to acquire Atlantic Marine Holding Company (Atlantic Marine) from JFL-AMH Partners, LLC, a portfolio company of the private equity firm J.F. Lehman & Company for a cash consideration of $352m. Atlantic Marine is a privately held vessel maintenance, repair, overhaul and conversion (MROC), marine fabrication, and ship construction services provider with operations at Mayport and Jacksonville, Florida; Moss Point, Mississippi; and Mobile, Alabama. The acquisition does not include Atlantic Marine’s Boston and Philadelphia operations, which will be retained by JFL-AMH Partners, LLC. The acquisition will be funded from BAE Systems’ existing cash resources.“BAE Systems’ strategy for our ship repair business is successfully growing marine sustainment activities in surface ship repair, as well as migrating our capabilities into naval modernization and upgrade. The acquisition of Atlantic Marine’s operations, highly skilled workforce, and marine fabrication capabilities will enhance BAE Systems’ ability to serve customers in the naval support and upgrade sector,” said Linda Hudson, President and CEO, BAE Systems, Inc. Atlantic Marine employs approximately 1,000 people and will become part of BAE Systems’ Ship Repair business. The acquisition will complement BAE Systems’ existing ship repair and upgrade capabilities to further serve the U.S. Navy and other maritime customers. The acquisition is consistent with BAE Systems’ strategy to address anticipated growth in Readiness & Sustainment activity within its home markets. The addition of Atlantic Marine will enhance BAE Systems’ ability to support current and future U.S. Navy home-porting strategies and broaden its customer base. The proposed acquisition is conditional, among other things, upon receiving certain U.S. regulatory approvals and is expected to close in the third quarter of 2010.

11 May 10. Babcock International: Final Results. Babcock International announced (11 May 10) results for the year ended 31 Mar 10. Total revenue rose to £1,924m from £1,915m in 2009 and profit before tax to £129m from £107m. The order book was worth £8,300m on 31 Mar 10, with a further £1,500m in prospect during 2010/11.
Comment: Babcock is “the leading submarine support partner” to the RN and will be directly influenced by any decisions affecting the Vanguard Class (Trident) replacement (as mentioned in Item 1). The above results also disclosed that the Astute Class SSN will have a 30-year operational life.
Following Company meetings on 9 and 10 Jun 10, completion of the VT acquisition by Babcock is expected to take place on 8 Jul 10. “Good progress” is reportedly being made with integration planning. (Source: DNA DEFENCE NEWS ANALYSIS, Issue 09/19, 17 May 09)

18 May 10. Cubic Corporation (NYSE: CUB) has bolstered its strategic presence in the defense, maritime and homeland security sectors by acquiring the assets of Impeva Labs, Inc., an international provider of global asset management, tracking, monitoring and security solutions. Cubic acquired Impeva’s contracts, inventory, fixed assets and intellectual property on May 14. A new subsidiary called Cubic Global Tracking Solutions, Inc., will build upon Impeva’s current military and civilian contracts to grow the business globally.
“We intend to leverage the next-generation technology developed by Impeva to become the market leader in global tracking for the Department of Defense, homeland security and commercial markets,” said John D. Thomas, Vice President of Finance and Corporate Development for Cubic Corporation. “The Impeva team has developed a cutting-edge, assured information continuous tracking capability.”
Impeva’s continuous global tracking technology is deploying with the U.S.
Department of Defense for tracking and monitoring DoD supply chains in the Middle East and Southwest Asia via satellite, GSM mobile communications, and on an encrypted

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