Author: Jane Edwards|| Date Published: June 7, 2018
Northrop Grumman (NYSE: NOC) wrapped up its approximately $9.2 billion purchase of Orbital ATK on Wednesday and will now run the newly acquired company as its fourth business sector called Northrop Grumman Innovation Systems.
Blake Larson, most recently chief operating officer at Orbital ATK, has been elected by the board as corporate vice president and president of Northrop Grumman Innovation Systems and will report to Kathy Warden, Northrop president and COO, Northrop said Wednesday.
Wes Bush, chairman and CEO of Northrop, said the company welcomes Orbital ATK™s employees and expects the combination to leverage both firms™ technologies and culture to develop mission capabilities and offerings in global security domains.
The Federal Trade Commissioncleared the deal on Tuesday with a requirement for Northrop to supply solid-rocket motors to competitors on œa non-discriminatory basis.
Northrop announced the acquisition in September 2017 in a move to expand technology offerings and accelerate innovation efforts.
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Northrop Grumman (NYSE: NOC) wrapped up its approximately $9.2 billion purchase of Orbital ATK on Wednesday and will now run the newly acquired company as its fourth business sector called Northrop Grumman Innovation Systems.
