Biggest naval equipment and tech deals in the three months to August
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These were the biggest naval equipment and technologies deals in the three months to August

By Michael Goodier 06 Oct 2021

There were seven deals recorded involving top naval equipment and technologies companies in the three months to August.

These were the biggest naval equipment and technologies deals in the three months to  August
Credit: PRNewfoto/Lockheed Martin.

That’s according to GlobalData’s Financial Deals database, which tracks market activity across a variety of sectors and deal types.

The deals below only include those that have been completed – so excludes rumours or those that have been agreed but not yet executed.

The figures, which cover the top naval equipment and technologies companies, show the market in the US to be the most active, with five deals taking place over the last three months. That was followed by France, which saw one deal.

Below are some of the largest completed deals to have taken place in the last quarter.

Acquisitions

Huntington Ingalls Industries Acquires Alion Science and Technology - 06 July ($1,650m)

Huntington Ingalls Industries Inc, a military shipbuilding company, has acquired Alion Science and Technology Corporation, a provider of advanced engineering and R&D services in the areas of ISR, military training and simulation, cyber, data analytics and other next-generation technology-based solutions, for USD1.65 billion in cash, from Veritas Capital. All companies are based in the US.

Veritas Capital is a private equity firm.

Following the transaction, Alion will become part of Huntington Ingalls Industries Technical Solutions division.
Expect to fund the purchase price through a combination of new senior notes and a new term loan facility.

Credit Suisse acted as financial advisor and Jones Day served as legal counsel to Huntington Ingalls Industries. Renaissance Strategic Advisors and Arena Strategic Advisors acted as advisors to Huntington Ingalls Industries. Macquarie Capital acted as financial advisor and Milbank served as legal counsel to Alion Science and Technology.

Deal History:
Announced: On July 6, 2021, Huntington Ingalls Industries has entered into a definitive agreement to acquire Alion Science and Technology Corporation from Veritas Capital.

CAE Acquires Global Jet Services (GlobalJet Services) - 04 August

CAE Inc, a Canadian manufacturer of simulation technologies, modelling technologies and training services to airlines, aircraft manufacturers, healthcare specialists, and defence customers, has acquired Global Jet Services, Incorporated (GlobalJet Services), a US-based provider of aviation maintenance training.

Frequentis Acquires C4i from L3Harris - 30 July

Frequentis, an Austrian developer and marketer of communication and information systems has acquired C4i Pty Limited, a provider of communications software from L3Harris.

L3Harris Technologies is a technology company, defence contractor and information technology services, provider.

Following the transaction, C4i will operate as an independent brand in the high-end Defence trusted supplier market with a specific focus on the US, Australia, UK, and allied markets.

Venture financing

Fiddler Labs Secures USD32 Million in Series B Funding - 17 June ($32m)

Fiddler Labs Inc, a US-based provider of an artificial intelligence (AI) experiences platform for companies, has secured USD32 million in Series B funding led by Insight Partners with participation from existing investors Lightspeed Venture Partners, Lux Capital, Haystack Ventures, Bloomberg Beta, Lockheed Martin, and The Alexa Fund.

In conjunction with the funding, George Mathew, Managing Director at Insight Partners, will join Fiddler's Board.

Krishna Gade is the CEO and Amit Paka is the CPO of Fiddler Labs.

Latent AI Secures USD19 Million in Series A Funding - 10 August ($19m)

Latent AI Inc, a US-based developer of an efficient interference platform designed to support the tenants of adaptive AI for a sharp edge, has secured USD19 million in Series A funding, led by Future Ventures and Blackhorn Ventures.

In addition, Booz Allen, Lockheed Martin, 40 North Ventures and Autotech Ventures also participated in the funding.

Hidden Level Secures USD17.6 Million in Series A Funding - 22 June ($18m)

Hidden Level Inc, a US-based developer of scalable sensor infrastructure capable of monitoring low altitude airspace with unprecedented capability, has secured USD17.6 million in Series A funding led by Lobby Capital, along with participation from Alsop Louie Partners, Lauder Partners LLC, Lockheed Martin Corp, Pipeline Capital Partners, Quest Venture Partners LLC and others.

Hidden Level has now raised over USD21 million in venture capital to date.

Jeff Cole is the chief executive officer (CEO) of Hidden Level.

Thales Raises USD2.5 Million in Seed Funding - 14 July ($2m)

Thales Group, a French provider of services for the aerospace, defence, transportation and security markets, has raised USD2.5 million in a seed funding round led by Framework Ventures and Apollo Capital and also participation from other venture capital contributors including LD Capital, Honey DAO, the LAO, Zee Prime Capital, IOSG Ventures, D64 Ventures, and Koji Capital.