Worcester’s Micro Networks is acquired by Fairview, PA’s Spectrum Control Inc. for $13 Million December 22, 2009Posted by hubtechinsider in Acquisitions, Defense Contracts, Military Contracts, Startups.
Tags: Acquisitions, Startups, worcester
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Worcester’s Micro Networks, a supplier of data conversion and custom flight modules for weapons and flight control systems, has been acquired by Fairview, PA’s Spectrum Control Inc., a provider of consulting, diagnostic testing and design services, for $13 Million.
Billerica MA based American Science & Engineering scores a $39 million Pentagon contract for X-ray bomb screening systems November 2, 2009Posted by hubtechinsider in Defense Contracts, Venture Capital.
Tags: Billerica, news, Venture Capital
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American Science & Engineering is a Billerica, MA -based outfit that makes X-ray systems that sniff for drugs and weapons. The Pentagon in January 2009 awarded the outfit a $39 Million contract for its rugged trailers that screen suspicious vehicles for bombs.
Waltham based Raytheon completes $350 Million purchase of BBN Technologies, Internet and Boston technology pioneer November 2, 2009Posted by hubtechinsider in Defense Contracts, Venture Capital.
Tags: Cambridge, news, Venture Capital, waltham
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Raytheon Company (NYSE:RTN) has completed its buyout of Cambridge, MA-based BBN Technologies for about $350 million. The amount of the purchase was not disclosed when the Waltham, MA-based provider of defense systems first announced the deal in September 2009. BBN Technologies has meant much to the development of the Internet and the Boston innovation scene over the past several decades.
Tags: Defense Contracts, waltham
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Tewksbury-based Raytheon Corporation, with 72,000 employees and a reported 2008 net income of $1.7 billion on revenue of $23.2 billion, has landed three new missile deals and a new radar contract from the US military.
The company’s Integrated Defense Systems unit has landed $30 million from the U.S. Army for its surface-launched medium range air-to-air missile (SLAMRAAM).
Last week, landed a $54MM deal with the US Navy to retrofit Super Hornet block II aircraft with APG-79 active electronically scanned array radars.
Earlier this month, Raytheon’s Integrated Defense Systems division (IDS) landed two Patriot missile deals with the US Army. Under the first $115MM contract, Raytheon will upgrade radar components on four Patriot missile systems. The deal was awarded by the Army’s Aviation and Missile Command.
The second Raytheon IDS Patriot Missile contract, valued at $9MM, was awarded by the U.S. Army for Patriot missile maintenance. Under the contract, IDS will perform missile maintenance and facilities in the United States and at overseas locations.
Raytheon stock (stock symbol: RTN) is sliding as Congress debates the defense budget. But the market may be overlooking some basic facts: international contracts make up one fifth of the company’s revenues, the balance sheet of Raytheon is strong, and homeland security is the center of the company’s business.
Raytheon is debt-free and Raytheon generates strong cash flows. Margins, profitability, and consistency of earnings are all improving. The stock, recently at 46.07, is trading below its five-year price / earnings (PE) ratio of 15 and has a 2.5% dividend yield. Raytheon beat first-quarter expectations and raised its 2009 earnings per share (EPS) to between $4.55 and $4.70.
Disclaimer: I do not own stock in Raytheon, but I wish I did. I think it’s a good story and a great Massachusetts-based company. I wish they would hire me, but it doesn’t look like that’s going to happen. I even moved to Waltham, have applied a million times and nothing helps. (laughing)
Tags: Defense Contracts, Robotics, waltham
Boston Dynamics is based in Waltham, MA. The Big Dog robot’s development was funded by DARPA, the Defense Advanced Research Projects Agency of the US government. Early in the company’s history, it worked with the American Systems Corporation under a contract from the Naval Air Warfare Center Training Systems Division (NAWCTSD) to replace naval training videos for aircraft launch operations with interactive 3D computer simulations.
The Most Advanced Quadruped Robot on Earth
BigDog is the alpha male of the Boston Dynamics family of robots. It is a quadruped robot that walks, runs, and climbs on rough terrain and carries heavy loads. BigDog is powered by a gasoline engine that drives a hydraulic actuation system. BigDog’s legs are articulated like an animal’s, and have compliant elements that absorb shock and recycle energy from one step to the next. BigDog is the size of a large dog or small mule, measuring 1 meter long, 0.7 meters tall and 75 kg weight.