Hello, Guest!
  • Sunday, December 22, 2024

HII Closes $1.65B Alion Buy; Andy Green Comments on Deal’s Alignment With Govt Business Focus

Huntington Ingalls Industries (NYSE: HII) has closed its $1.65 billion cash acquisition of Alion Science and Technology as part of a growth strategy to expand HII’s technical service offerings in target markets.

The Newport News, Virginia-based shipbuilder first announced the transaction to acquire Alion from private equity firm Veritas Capital on July 6.

“Alion is a perfect complement to our existing capabilities in the technology-driven defense and federal solutions space,” said Andy Green, an executive vice president at HII and president of its Technical Solutions division.

Green, a 2021 Wash100 Award recipient, added that the acquired company’s products and services align with the strategic focus in HII’s government business.

HII formed its Technical Solutions unit in late 2016 and forecasts the division to experience an annual pro forma revenue growth rate of 7 percent to 9 percent through 2024.

Video of the Day

Related Articles

State Department Approves Proposed $2B Training Contract for AUKUS Personnel News

State Department Approves Proposed $2B Training Contract for AUKUS Personnel

The Department of State approved a proposed $2 billion sale of devices, equipment and other services to support a training program under the Australia-United Kingdom-United States, or AUKUS, trilateral security alliance for the Indo-Pacific region. The Defense Security Cooperation Agency announced Friday that the foreign military sale to the Australian government will be fulfilled by

HII Technical Solutions Now Operates as Mission Technologies; Andy Green, Todd Borkey Quoted News

HII Technical Solutions Now Operates as Mission Technologies; Andy Green, Todd Borkey Quoted

Huntington Ingalls Industries, which now operates as HII (NYSE: HII) as part of a rebranding effort, changed the name of its Technical Solutions division to Mission Technologies after a series of acquisitions and the expansion of its national security capabilities. Andy Green, an executive vice president of HII, will serve as president of HII’s Mission

Navy Selects HII’s Remus 300 as Next-Gen Small UUV Program of Record; Andy Green Quoted Contract Awards

Navy Selects HII’s Remus 300 as Next-Gen Small UUV Program of Record; Andy Green Quoted

The U.S. Navy has selected the Remus 300 unmanned underwater vehicle from Huntington Ingalls Industries (NYSE: HII) as the military service’s next generation small UUV program of record. HII photo The branch made the selection after a rapid prototyping initiative that ran for two years and will move the Lionfish SUUV program forward with UUV