Northrop Grumman has formed a Space Systems division following completion of its $315 million cash acquisition of Aerojet-General's Electronics and Information Systems group. The new division, with some 1,600 employees and more than $400 million in annual revenues, specialises in spaceborne sensing for early warning and weather. Aerojet will use the proceeds to reduce debt and grow its Missiles and Space Propulsion business.
Source: Flight International