:

Business/Financial

Elbit America To Acquire Navy Contractor Sparton

By Cal Biesecker

Wednesday, January 6th, 2021

SHARE:

Elbit America To Acquire Navy Contractor Sparton

Sparton manufactures sonobuoys. (Photo: Sparton)

Israel’s Elbit Systems [ESLT] in December said its U.S. subsidiary Elbit America has agreed to acquire defense contractor Sparton Corp. for $380 million in a deal that expands the company’s work on naval systems. Elbit is acquiring Florida-based Sparton from the private equity firm Cerberus Capital Management, which acquired Sparton in early 2019 and took the company private. “The acquisition of Sparton will strengthen Elbit Systems of America’s capabilities and will enable expansion of activities in the naval arena,” Bezhalel…

‘Theoretical Potential’ to Achieve 1,509 Combat-Coded Fighters by 2035, USAF Says

In the latest U.S. Air Force fighter force structure report submitted to Congress, the service speaks of a “theoretical potential” to achieve a goal of 1,509 combat-coded fighters in the […]

Budget

Hegseth Pushes For Reconciliation With At Least $350 Billion For Defense ‘Regardless’ Of Midterms Outcome

Defense Secretary Pete Hegseth said Wednesday the Trump administration plans to continue its push for at least $350 billion in defense funds via the reconciliation process “regardless of what happens […]

Congress

Bipartisan Push in Senate to Hasten Export of 155 mm, GMLRS, HIMARS for Ukraine

A small, bipartisan group of senators is backing the Fast Tracking European Investment in Ukraine’s Defense Act, S. 5175, to hasten the export of allied buys of U.S. munitions for […]

Congress

Rep. Himes Signals Increased Contractor Oversight, if Democrats Win House

Rep. Jim Himes (D-Conn.), the ranking member of the House Permanent Select Committee on Intelligence, plans to increase the committee’s contractor oversight if the Democrats win control of the House […]