Company Renamed Northrop Grumman Innovation Systems
For those of us in the federal market, news of mergers & acquisitions are steadily becoming the norm. Throughout all mergers, senior leadership faces new challenges to make sure that customers are well informed and satisfied, prospective business partners are clear on roles and responsibilities and the culture and employees of the new combined company are all moving the right direction.
In the news this month, the U.S. Federal Trade Commission cleared Northrop Grumman’s purchase of defense and space contractor Orbital ATK, thereby making Orbital ATK Northrop Grumman’s fourth business sector, named Northrop Grumman Innovation Systems. First announced on September 18, 2017, to make this purchase, Northrop Grumman paid $7.8 billion in cash and assumed $1.4 billion in debt.
Northrop Grumman Chairman and Chief Executive Officer, Wes Bush, said of this recent acquisition, “We welcome Orbital ATK’s talented employees. We are delighted to have them join the Northrop Grumman team, and we are very excited about the value creation our combination represents for our customers, shareholders and employees. Together, through our leading technologies and innovation-focused culture, we look forward to developing enhanced mission capabilities and more competitive offerings in critical global security domains.”
To lead this new sector, Northrop Grumman’s board of directors elected Blake Larson as corporate vice president and president of Northrop Grumman Innovation Systems. Larson previously served as the chief operating officer of Orbital ATK.
Read more about the merger in Northrop Grumman’s press release.
To learn about how research can provide key insights and inform your strategy prior to a merger and/or acquisition, visit our Mergers & Acquisitions Research page.