Sponsored by SPX Communication Technologies (TCI & ECS)
www.tcibr.com
www.enterprisecontrol.co.uk
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02 Jan 25. Avion Solutions, a leader in aerospace engineering, airworthiness, modeling and simulation, and integrated product support, is excited to announce the acquisition of Tennessee Valley Research Group (TVRG). Known for its technical and programmatic expertise in laser technology systems, tactical ballistic missile targets, and hypersonic weapon field testing, TVRG strengthens Avion’s capabilities in these critical domains. This strategic acquisition brings together two leading companies dedicated to advancing national defense. By merging Avion’s proven capabilities with TVRG’s specialized expertise, the partnership strengthens their ability to provide innovative technologies and services to the customers across the Department of Defense. The integration of TVRG’s skilled team enhances Avion’s existing portfolio, promoting innovation and improving efficiency across various projects.
“We are pleased to welcome a remarkable group of employee-owners who share our culture of technical excellence and dedication to the Warfighter,” said Evan Wagner, President and CEO of Avion Solutions. “This acquisition marks another significant milestone in our growth strategy, reinforcing our commitment to providing comprehensive solutions that meet the evolving needs of our customers.”
02 Jan 25. Curtiss-Wright Corporation (NYSE: CW) today announced that it has completed the acquisition of Ultra Nuclear Limited and Weed Instrument Co., Inc. (“Ultra Energy”) for $200m in cash. Ultra Energy is a leading global provider of safety-critical measurement and control systems to the Commercial Nuclear and Aerospace & Defense markets. The business designs and manufactures reactor protection systems, neutron monitoring systems, radiation monitoring systems, and temperature and pressure sensors that facilitate the safe and reliable operation of commercial nuclear reactors and other power generation plants. It also provides support to the legacy UK nuclear submarine fleet, as well as current and next-generation ship designs. In alignment with our strategic priorities highlighted at our 2024 Investor Day, the acquisition of Ultra Energy increases the breadth of Curtiss-Wright’s global commercial nuclear portfolio with highly complementary measurement and control solutions supporting plant life extensions and modernization projects of aging power plants and further expands our presence with the leading global designers of small modular reactors, both in the U.S. and Europe. The acquisition also supports Curtiss-Wright’s long-term financial objectives for profitable growth and strong free cash flow generation. Ultra Energy generated sales of approximately $65 m in 2023 and is expected to be accretive to Curtiss-Wright’s adjusted diluted earnings per share in its first full year of ownership, excluding first year purchase accounting costs, and produce a strong free cash flow conversion rate in excess of 100%. The business will operate within Curtiss-Wright’s Naval & Power segment. Through its predecessor companies, Ultra Energy’s roots date back to the mid-1950s as a specialist in neutron monitoring and the late-1960s as a manufacturer of temperature and pressure sensors. Today, its diverse portfolio includes neutron monitoring for measuring reactor power and safety management, radiation monitoring for plant safety, reactor protection systems to constantly monitor plant conditions, and highly accurate temperature and pressure sensors. Ultra Energy employs approximately 300 people and maintains primary operations in Wimborne, UK, and Round Rock, TX.
30 Dec 24. U.S. Global Investors, Inc. (Nasdaq: GROW) (“the Company”), a registered investment advisory firm[1] known for its thematic ETFs, announced the launch of its first actively managed exchange-traded fund, the U.S. Global Technology and Aerospace & Defense ETF (NYSE: WAR) [this will link to the WAR fund page], which begins trading today on the New York Stock Exchange (NYSE). The launch builds on the Company’s success with its bn-dollar U.S. Global Jets ETF (NYSE: JETS) and emphasizes its ability to create resilient, dynamic products. The WAR ETF is designed to address the increasing global demand for defense and protection through technological advancements. Focusing on sectors like semiconductors, artificial intelligence (AI), data centers, cybersecurity, aerospace and electronic warfare, WAR offers diversified exposure to the industries that help prevent and protect from the threat of war. Like the Company’s other ETFs, WAR applies a smart beta 2.0 investment strategy, combining quantitative and fundamental analysis to identify opportunities for long-term outperformance while managing risk.[2]
“The WAR ETF is more than just an investment in defense,” says Frank Holmes, CEO and Chief Investment Officer of U.S. Global Investors. “From the ‘war on drugs’ to the iconic movie Star Wars, history has shown us the importance of defense against the forces that threaten peace. With advances in robotics, drones, satellites, AI and cybersecurity, the ETF aims to capture opportunities in these critical sectors that are transforming how we think about defense and security in the modern world.”
A Smart Beta 2.0 Approach to Investing in the Future of Global Security and Advanced Technologies
Global military expenditures reached a record $2.4 trillion in 2023 after increasing for nine consecutive years,[3] driven by rising geopolitical tensions and modernization efforts across the globe. That’s especially true in Europe, where European Union (EU) member states are estimated to spend a collective €326 bn ($342 bn) this year on aerospace and defense, representing a record-breaking 1.9% of the bloc’s gross domestic product (GDP).[4]
Additionally, the global semiconductor market is projected to surpass $1 trillion by 2030, fueled by growth in defense applications, AI integration and automotive technologies.[5] The value of the global AI market alone is estimated to hit approximately $826 bn by 2030, according to calculations made by Statista.[6]
Complementing Our Suite of Thematic ETFs
WAR joins the Company’s growing lineup of thematic ETFs, including:
- U.S. Global Jets ETF (NYSE: JETS), focused on airlines and air travel
- U.S. Global GO GOLD and Precious Metal Miners ETF (NYSE: GOAU), focused on gold mining
- U.S. Global Sea to Sky Cargo ETF (NYSE: SEA), focused on global shipping and logistics. (Source: Google)
31 Dec 24. DoD Publishes Northrop Grumman/Orbital ATK Consent Order – (89 Fed. Reg. 107128) – The U.S. Department of Defense’s Office of the Under Secretary of Defense for Acquisition and Sustainment (OUSD(A&S)) has published the Federal Trade Commission (FTC) Decision and Order (hereinafter referred to as the “Consent Order”), in the Matter of Northrop Grumman Corporation (NGC) and Orbital ATK, Inc Docket No. C-4652, dated June 5, 2018, and as modified on December 3, 2018, e to inform the Public about the Consent Order and to notify the Public of the DoD Compliance Officer point of contact for further information or inquiries. The FTC’s Complaint alleged that NGC’s 2018 acquisition of Orbital ATK would reduce competition in the market for missile systems purchased by the U.S. Government, resulting in less innovation and higher prices for taxpayers. The resulting Consent Order, as described below, preserves the procompetitive benefits of the acquisition while addressing the potential anticompetitive harms. The Consent Order: The Consent Order requires that NGC make its solid rocket motors (SRMs) and related services available on a non-discriminatory basis to all competitors for missile contracts. Covered missiles include any air, sea, and/or land-based missile propelled by one or more SRMs, including tactical missiles, missile defense interceptors and targets, and strategic missiles. The Consent Order does not cover launch vehicles for satellites and other space systems. The non-discrimination prohibitions of the Consent Order are comprehensive and apply to potential discriminatory conduct affecting price, schedule, quality, data, personnel, investment, technology, innovation, design, or risk. NGC must also establish firewalls to keep it from transferring or using any proprietary information that it receives from competing missile prime contractors or SRMs suppliers in a manner that harms competition. The Consent Order is in effect until June 5, 2038. The complete text of the Consent Order and supplementary information is located on the following FTC Website: https://www.ftc.gov/legal-library/browse/cases-proceedings/181-0005c-4652-northrop-grumman-orbital-atk-matter. For further information and inquiries, interested parties should contact the DoD Compliance Officer, Ms. Nicoletta S. Giordani, at 703-693-6613 or . (Source: glstrade.com)
31 Dec 24. Defence companies are primed for a surge in deal activity as many look to deploy growing cash piles to invest in technologies such as artificial intelligence, sophisticated drones and space systems. (Source: FT.com)
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SPX CommTech, part of SPX Technologies Inc, innovates specialised technologies within the Radio Frequency (RF) spectrum to ensure a smarter, more secure future for all. Formed by TCI and ECS, SPX CommTech’s Battlespace portfolio enables defence and security teams to detect, defeat and exploit RF signals to enhance communications intelligence (COMINT) and counter unmanned aerial systems (Counter-UAS). Additionally, its Tactical Data Link portfolio allows intelligence gathering agencies, special forces, emergency response, and security teams to securely and reliably transfer video and data between enabled-aircraft and ground teams over long distances for airborne Intelligence, Surveillance, Reconnaissance (ISR). For more information visit www.tcibr.com and www.enterprisecontrol.co.uk
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