M&A Activity

Voyager Space Holdings has completed its majority investment in X.O. Markets, the parent company of small satellite deployment system provider Nanoracks, to establish a footprint in the commercial space services market. Denver-based Voyager said Tuesday the move is part of efforts to position itself to offer an integrated space exploration platform that could support various missions.

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Booz Allen Hamilton announced Tuesday that it has entered into an agreement to acquire Liberty IT Solutions for $725 million in an effort to strengthen the former's digital solutions capabilities and improve the its ability to work with strategic industry partners to help clients adapt and transform. "Liberty IT has been extremely successful in helping to operationalize Salesforce within federal market so it’s not difficult to see why this transaction makes sense for Booz Allen,” said John Song, managing director at Baird, which serves as Liberty’s exclusive financial adviser.

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Maximus has agreed to purchase Veterans Evaluation Services' (VES) parent company for $1.4 billion in support of its long-term corporate strategy for revenue growth and ongoing strategic priority of expanding footprint in the U.S. federal market. The acquisition, which is subject to U.S. antitrust filing requirements and customary closing conditions, is expected to close during Maximus' third fiscal quarter, the company said Wednesday.

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Anduril Industries plans a new round of financing that would value the defense technology startup at approximately $4 billion to $5 billion. The Irvine, California-based startup is likely to use the proceeds to further expand development work on drones and other military equipment.

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Greg Hayes, CEO of Raytheon Technologies, said the company has positioned its product portfolio to target the 2018 National Defense Strategy’s priorities as it anticipates a flat defense budget in the coming fiscal year, the Washington Business Journal reported Thursday.

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Cubic Corporation announced on Wednesday it has accepted a proposal from Veritas Capital and Evergreen Coast Capital to increase the price per share of their pending acquisition of Cubic to $75.00 per share in cash. By accepting the proposal, Cubic has entered into an amended agreement with Veritas and Evergreen. The all-cash transaction will be valued at approximately $3 billion. 

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BAE Systems has acquired Pulse Power and Measurement (PPM), a developer and manufacturer of high-end electronics, in an effort to enable BAE to further advance its strategic objective to develop and grow its capabilities in secure systems and information exploitation. “Pulse Power and Measurement Limited and BAE Systems are an excellent fit," said Ian Muldowney, COO and engineering director, BAE Systems’ Air Sector.

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