17 May 2022
by Marc Selinger
ManTech International is headquartered in Northern Virginia. (ManTech)
US government services provider ManTech International Corporation, which has been publicly traded since 2002, will become a privately held entity under a USD4.2 billion cash takeover offer it has accepted from US investment firm Carlyle Group, ManTech announced on 16 May.
“Following a comprehensive review of strategic alternatives”, ManTech's board of directors “determined that this transaction is in the best interest of our shareholders”, who will receive a 32% premium on their stock's price, the company said. “As a private company with Carlyle as our partner, ManTech will have added flexibility and resources to advance capabilities, capitalise on significant opportunities ahead, and build upon our success.“
George Pedersen, 85, who co-founded ManTech in 1968, recently left the board and reduced his voting stake in the company to facilitate a takeover, Cowen analyst Gautam Khanna wrote in a research “note”. Other government contractors that might have been seen as potential buyers, including CACI International, Jacobs Engineering, and Leidos, are too busy integrating acquisitions or have too much debt to purchase ManTech, Khanna added.
18 April 2024
by Jeremiah Cushman
Actual and planned Canadian defence spending by category from 2021–22 to 2026–27. (Janes)
The Canadian government released its fiscal year (FY) 2024 defence budget on 16 April. The document projects spending of CAD33.8 billion (USD24.6 billion) in 2024–25, including adjustments from the Budget 2023 Refocusing Government Spending Exercise and incremental funding in the 2024 budget, although it warns that forecast amounts may change as programmes move through implementation. This is an increase from the forecast CAD29.9 billion spending in 2023–24, according to the document.
The 2024–25 main estimates produced by the Treasury Board projected defence spending of CAD30.6 billion, a small increase from the latest spending estimate for 2023–24, which totalled CAD30.3 billion. This is a 14% increase over the initial 2023–24 main estimate of CAD26.5 billion, according to Treasury Board figures. Expenditures in 2022–23 totalled CAD26.9 billion.
11 April 2024
by Zach Rosenberg
A Nigerian A-29 Super Tucano is pictured here. Embraer Defence CEO Bosco da Costa sees potential for up to 450 Super Tucanos over 20 years, including from Africa. (US Africa Command Public Affairs)
Embraer Defence & Security sees a market for up to 490 A-29 Super Tucano trainer and attack aircraft over the next two decades, Embraer president and CEO Bosco da Costa Jr told Janes on 10 April at the FIDAE 2024 airshow in Santiago, Chile.
“We are in touch with several countries around the world, not only here in South America, but we have some potential [customers] in Africa, in Asia, and in Europe as well,” said da Costa. “We are in advanced conversations with countries in Europe [and] in advanced conversations with countries in Asia. I cannot disclose the countries because the defence procurement process does not allow us to do that. But I assure you that we are now in a final stage in some of them.”
11 April 2024
by Olivia Savage
Saab has been contracted to upgrade the army's live training capability. Pictured are troops practising their debussing drills from a Saab DFWES-equipped Warrior infantry combat vehicle in Alberta. (Janes)
The British Army has signed a GBP60 million (USD75.7 million) three-year support contract with Saab to improve its live training capability.
The contract – Instrumented Live Training (ILT-D) – is replacing the existing Direct Fire Weapon Effects Simulator (DFWES) contract with Saab and will involve modernising its live training capabilities to improve interoperability and address obsolescence.
ILT-D is essentially a mid-life upgrade of the DFWES capability that will comprise upgrading and providing the latest soldier and vehicle training systems as well as EXCON software to ensure it remains relevant to the army's evolving training needs and is interoperable with its allies, Joakim Alhbin, the vice-president of Training and Simulation at Saab, informed Janes and other media representatives at the International Training Technology Exhibition & Conference (IT²EC) 2024.
DFWES is a laser-based Tactical Engagement Simulation (TES) capability that simulates direct and indirect fire.
US government services provider ManTech International Corporation, which has been publicly traded si...
In this podcast Janes analysts discuss the Iranian attacks on Israel on the 14 April. They highlight the military systems used by Iran and the performance and impact of these on Israel. They also discuss the implications of this attack goi...
Listen now