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Northrop Grumman Buys Completes Buyout Of Xontech To Boost Missile Defense Offerings
Los Angeles - Jul 25, 2003 Northrop Grumman said Thursday that it had completed its acquisition of XonTech, a Van Nuys, Calif.-based science and technology firm specializing in missile defense, and sensor and intelligence data analysis. The acquisition boosts the company's missile defense capabilities. XonTech, with 450 employees, generated 2002 revenues of approximately $73 million. The company will be integrated into Northrop Grumman's Mission Systems sector headquartered in Reston, Va. "Missile defense is one of the nation's great challenges, requiring the best the defense industry has to offer," said Donald C. Winter, president, Northrop Grumman Mission Systems and lead corporate executive for missile defense. "XonTech's technology complements Northrop Grumman's expertise in data analysis and interpretation, phenomenology, sensors, radar design, algorithm development and modeling. XonTech's expertise and technology also strengthens our ability to develop the missile defense systems essential to countering 21st century threats." Kenneth W. Schultz, XonTech's president and chief executive officer said, "For the past 20 years, the company has been dedicated to advancing the technologies required to field an effective U.S. missile defense. XonTech's employees are looking forward to making even greater contributions to this strategic imperative as part of Northrop Grumman." Houlihan Lokey Howard & Zukin's Aerospace Defense Government Group served as exclusive financial advisor to XonTech. Related Links Xontech Northrop Grumman SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express
18th Aegis Guided Missile Destroyer Ready To Be Commissioned
Pascagoula - Jul 24, 2003The U.S. Navy will commission USS Mustin (DDG 89), its 39th Aegis guided missile destroyer, and the 18th built by Northrop Grumman Corporation's Ship Systems sector, Saturday, July 26, at 8pm PDT. |
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