Veridian buy approved
Veridian Corp. shareholders have cleared the way for the company's acquisition by General Dynamics Corp. General Dynamics, based in Falls Church, Va., proposed June 9 to pay a total of about $1.5 billion for Veridian, including assumption of about $270 million in debt.
The acquisition has been approved by the boards of directors of both companies and has cleared the mandatory waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The transaction was expected to close last week. Veridian stockowners will receive $35 a share for their stock.
Veridian has 7,300 employees and specializes in an array of technology services, including network security, information systems development and integration, network and enterprise management, and large-scale systems engineering. The company is based in Arlington, Va.
PeopleSoft saga continues
Oracle Corp. has extended a buyout offer to PeopleSoft Inc. shareholders until midnight Sept. 19.
The move extends a drama that has been playing out since June 9, when Oracle first floated a bid for PeopleSoft. The company is currently offering to buy its competitor for $19.50 a share.
"We remain fully committed to acquiring PeopleSoft," said Oracle spokesman Jim Finn in the Aug. 9 announcement of the offer extension. The total offer exceeds $6 billion.
The bid has sparked expected antitrust scrutiny, and PeopleSoft users fear they might have to transition to Oracle software. Oracle officials have pledged to support PeopleSoft products for at least 10 years, although they have also said they would no longer actively market it if the takeover effort succeeds.
BAE nabs Spawar pact
The Space and Naval Warfare Systems Command awarded BAE Systems a contract worth up to $54.5 million for support services for ship command and control for its Charleston, S.C., office.
Under the terms of the contract, which was announced last week, BAE will provide engineering and technology support services for command, control, communications, computers and intelligence systems, and shipboard testing for radio communications.
The $17.4 million contract lasts until August 2004 and includes options that, if exercised, would bring its total value to $54.5 million over the next three years.
BAE designs and builds radio systems for ships.
"Our efforts are focused on designing in the most recent technology that the Navy has to offer," said Paula Sandin, a spokeswoman for BAE. "This includes designing in technological advancements associated with the transmission and reception of [radio frequency] energy, its processing and control, monitoring, management, and transfer of associated tactical and administrative information."
EMC improves replication
During the recent flurry of product announcements, EMC Corp. made good on a number of additions and enhancements promised for its Symmetrix DMX enterprise disk storage line. They include a new feature that the company said will make data replication less expensive and possible over any distance.
Replication — the process by which data is copied from one storage device to another — has become a hot topic in government as agencies look for ways to reduce their vulnerability to system disruptions. EMC announced a new version of its Symmetrix Remote Data Facility replication product called SRDF/A, the "A" standing for asynchronous.
With prices starting at $20,000, the software lets customers who have EMC's Symmetric DMX disk arrays use standard IP networks to transport data copies across virtually any distance.