After the Marion Lockheed Martin complex announced it would close by 2022 — former and current employees, alongside town officials, mourned the imminent loss. “I was completely shocked, I gotta say,” said long-time employee Bill Beardsley. Beardsley began his time at Sippican in 1981, and said he remembers the summer before he began working at the company.
The COVID-19 testing bubble could be on the verge of popping for Abbott Laboratories. The company is eliminating 310 jobs at its Westbrook, ME manufacturing facility according to a report from Mainebiz.
A tech startup that launched in 2016 is planning to double its headcount in New England after raising new investment funds.MIT spinoff Pison Technology, which has around 40 local employees, closed a $7 million round this month to bring its total funding to $11 million, according to CEO Dexter Ang.A MassChallenge Boston alum, Pison Technology is developing a wrist sensor that enables hands-free control of electronics. The device, which is the size of an Apple Watch, captures neuromuscular signals on the surface of the skin and combines them with machine learning algorithms to interpret how people intend to move their hands, and transmits those signals to a smartphone to control digital devices.Led by Lavrock Ventures, the Series A round saw participation from returning investor In-Q-Tel, a nonprofit investment arm of the CIA, and Bose Venture Capital.
A week after awarding Sikorsky $478 million to complete a fleet of “Marine One” helicopters for use by the White House, the Department of Defense signaled the Stratford manufacturer could see nearly $1 billion more to upgrade a fleet of helicopters.
PATUXENT RIVER NAS, Md. – U.S. Navy helicopter aviation experts are ordering five new VH-92A presidential helicopters for the U.S. president and other high-ranking government dignitaries under terms of an order announced Friday worth nearly a half-billion dollars.
Evolv Technology, which has pulled in funding from Jeb Bush’s firm and Bill Gates, has now raised an additional investment.The Waltham-based maker of touchless security-screening systems said Monday in a regulatory filing it has raised just north of $14.5 million in the first tranche of a $30 million offering of debt and other securities.
The Biden administration will cancel a $500 million sale of bombs to a US ally – believed to be Saudi Arabia – the CEO of a major defense contractor predicted on Tuesday.
WARSAW, Poland — The Romanian government has approved and sent to the parliament a draft bill that will allow the country to buy Naval Strike Missile coastal defense systems through a foreign military sales (FMS) procedure.
Raytheon Technologies (NYSE:RTX) has been awarded a ~$145.1M modification to previously issued fixed-price-incentive-firm-target, firm-fixed-price contract.The modification exercises an option for the production and delivery of 90 full rate production Lot 17 Block V Tactical Tomahawk (TACTOM) All Up Round Vertical Launch System missiles, including related hardware and services for the Navy.Work to be performed at multiple locations; and is expected to be completed in December 2023.
Last week, Massachusetts-based robot maker Boston Dynamics announced that it was becoming part of the South Korean Hyundai family, subject to all the usual regulatory requirements and formal approval inherent in international acquisitions. The huge $1.1 billion deal will see Hyundai Motor Group take an 80% stake in the company, with SoftBank controlling the leftover 20%. It’s the latest in a series of notable sales by the Japanese multinational conglomerate holding company SoftBank. In September, SoftBank made the news when it announced the sale of Arm Holdings to NVIDIA for $40 billion.
“As part of a historic Missile Defense Agency demonstration and for the first time ever, an intercontinental ballistic missile target was intercepted and destroyed outside Earth’s atmosphere by an advanced SM-3 Block IIA ballistic missile defense interceptor made by Raytheon Missiles & Defense,” Raytheon (RTX -1.2%) writes in a new press release.
SoftBank Group Corp. is in talks to sell robot maker Boston Dynamics Inc. to Hyundai Motor Co., people familiar with the matter said.Proposed terms of the deal would give the South Korean automaker control of the robotics company in a transaction valued at as much as $1 billion, said one of the people, all of whom asked not to be identified because the discussions are private. The terms have yet to be finalized, and the deal could fall apart, said the people.