GovConWire's Government Contracting News 4/28/2021

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M&A Activity

Cubic Shareholders OK Merger Deal With Veritas Capital, Evergreen

Stockholders at Cubic (NYSE: CUB) voted Tuesday to approve an amended buyout offer of Veritas Capital and Evergreen Coast Capital, an affiliate of Elliott Investment Management. Holders of approximately 70.3 percent of Cubic’s shares issued and outstanding as of March 18 voted in favor of the merger agreement, Cubic said Tuesday. In late March, Cubic

Financial Report

Raytheon Reports $15B in Q1 Sales, $65B Defense Backlog; Greg Hayes Quoted

Raytheon Technologies (NYSE: RTX) posted sales of $15.3 billion and earnings per share of $0.90 for the first quarter of its 2021 fiscal year. The Waltham, Massachusetts-based defense and aerospace contractor said Tuesday its defense segment backlog at the end of FY 2021 Q1 was $65.2 billion. Major bookings for the quarter include $1.4 billion

News

Gen. Lloyd Austin Leading 2021 Wash100 Vote Standings By One Vote, General Dynamics CEO Phebe Novakovic Remains in Second Place; Voting Ends on Friday, April 30th

Visit Wash100.com to cast your TEN votes before the 2021 Wash100 Vote Standings comes to an end on Friday. In THREE days, the most competitive voting season in the history of the most prestigious award in all of government contracting (GovCon) will end with a buzzer-beater. The Wash100 Award celebrates the accomplishments of the elite

M&A Activity

Guidehouse-ReefPoint JV Targets Government Health IT Market; Scott McIntyre Quoted

Guidehouse and ReefPoint Group have created a joint venture that aims to help federal civilian, defense and commercial clients transform health care delivery with the use of information technology. Taurian Consulting emerged from a partnership between the two companies under the Small Business Administration’s mentor-protege program and will operate as a service-disabled veteran-owned entity, Guidehouse

News

Executive Order Requires $15 Minimum Wage for Federal Contract Workers

The White House has issued an executive order that will direct government contractors to increase the minimum wage of employees working on federal contracts to $15 per hour. The new policy will require all federal agencies to include the raise in new contract solicitations by Jan. 30, 2022 and implement the higher wage into new

Executive Moves

Biden Nominates Frank Kendall, Gina Ortiz Jones for Air Force Secretary, Undersecretary Roles

President Joe Biden has nominated national security veterans Frank Kendall and Gina Ortiz Jones to serve as secretary and undersecretary of the U.S. Air Force, respectively. Kendall, a three-time Wash100 Award winner, previously worked at the Pentagon as undersecretary of defense for acquisition, technology and logistics and principal deputy undersecretary, the White House said Tuesday.

M&A Activity

Private Equity Firm Greenbriar Buys PCX Aerosystems Buy

Private equity firm Greenbriar Equity Group has purchased aircraft components supplier PCX Aerosystems for an undisclosed sum as the latter completed its acquisition of the Senior Aerospace Connecticut business from global manufacturing and engineering company Senior plc. PCX said Monday it produces flight systems for rotorcraft and fixed-wing platforms and its industry customers include Boeing

Contract Awards

Lockheed Awarded $214M for Army Multiple Launch Rocket System Upgrade Work

Lockheed Martin‘s (NYSE: LMT) missiles and fire control business has secured a $214.7 million contract modification to continue modernization of the U.S. Army’s Multiple Launch Rocket System. The service branch used fiscal 2021 missile procurement funds on this award covering M270A2 MLRS work, the Department of Defense said Tuesday. The Lockheed MFC segment initially received a

Executive Moves

Former Army Assistant Secretary Heidi Shyu Nominated to Oversee DOD’s Research, Engineering

President Joe Biden has nominated Heidi Shyu, who was the U.S. Army’s assistant secretary for acquisition, logistics and technology from 2012 to 2016, to become the undersecretary of the Department of Defense for research and engineering. Shyu serves on the boards of multiple technology and investment companies, such as Auterion Government Solutions, Levitate Capital and

Contract Awards

VTG Lands $116M Navy C4ISR Support Contract; John Hassoun Quoted

VTG will produce command, control, communications, computers, intelligence, surveillance and reconnaissance systems for a U.S. Navy-operated network integration engineering facility under a potential five-year, $116 million contract. The indefinite-delivery/indefinite-quantity contract with Naval Information Warfare Center Pacific covers C4ISR production and engineering support to NIWC-PAC NIEF, the company said Tuesday. Chantilly, Virginia-based VTG will also help

GovConWire's Government Contracting News 4/28/2021

Cubic Shareholders OK Merger Deal With Veritas Capital, Evergreen

Raytheon Reports $15B in Q1 Sales, $65B Defense Backlog; Greg Hayes Quoted

Gen. Lloyd Austin Leading 2021 Wash100 Vote Standings By One Vote, General Dynamics CEO Phebe Novakovic Remains in Second Place; Voting Ends on Friday, April 30th

Guidehouse-ReefPoint JV Targets Government Health IT Market; Scott McIntyre Quoted

Executive Order Requires $15 Minimum Wage for Federal Contract Workers

Biden Nominates Frank Kendall, Gina Ortiz Jones for Air Force Secretary, Undersecretary Roles

Private Equity Firm Greenbriar Buys PCX Aerosystems Buy

Lockheed Awarded $214M for Army Multiple Launch Rocket System Upgrade Work

Former Army Assistant Secretary Heidi Shyu Nominated to Oversee DOD’s Research, Engineering

VTG Lands $116M Navy C4ISR Support Contract; John Hassoun Quoted

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