By Anthony O. Goriainoff
Serco said it will acquire a defense business from Northrop Grumman for $327 million cash.
The U.K. outsourcing company said Thursday that the acquisition, MT&S, will increases its scale, capabilities and growth potential in the U.S. defense market. It is expected to also provide solutions it can then offer to its other international customers.
The company said the business provides the U.S. military with advanced mission training services as well as software that makes satellite ground networks more efficient.
MT&S will build additional scale for Serco in North America and grow its business to beyond $2 billion of revenue and $200 million of profit.
"It brings new capabilities and access to a broader base of customers, which will provide further opportunities for Serco to grow organically in both North America and internationally," it said.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
January 30, 2025 02:45 ET (07:45 GMT)
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