Aerospace Group:

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…

Congress

Munitions Fired Represent Most of $25 Billion Spent By Pentagon on Iran War So Far

Munitions fired in the two-month old “Operation Epic Fury” against Iran represent most of the $25 billion cost the Pentagon has incurred thus far in the conflict, the acting Defense […]

Congress

Slotkin: Pentagon Should Use Anthropic’s Mythos To Spot Cyber Security Gaps

The Pentagon should be using Anthropic‘s recently announced Mythos artificial intelligence model to spot gaps in cyber security, Sen. Elissa Slotkin (D-Mich.) said on Tuesda. “I think the thing that […]

Budd And Shaheen Bill Would Authorize 329 F-15EX Fighters

Two members of the Senate Armed Services Committee (SASC), Sen. Ted Budd (R-N.C.) and Sen. Jeanne Shaheen (D-N.H.), have introduced the Airpower Acceleration Act, which would authorize multi-year procurements of […]

Congress

HASC’s Wittman Sees ‘Challenging’ Push For $350B In Reconciliation Funds, Wants Sustained Defense Increase

NATIONAL HARBOR, Md.– Congress’ work to pass $350 billion in reconciliation funds to support the Trump administration’s push for a $1.5 trillion fiscal year 2027 defense topline is “going to […]