Amentum Holdings, Inc. AMTM shares gained on Wednesday. The corporate disclosed that it reached a definitive deal to promote its Speedy Options {hardware} and product enterprise to Lockheed Martin Company LMT for a money transaction valued at $360 million.
The corporate’s Speedy Options enterprise focuses on ISR, superior communications, and tactical methods aimed toward crucial nationwide safety challenges.
As a part of the deal, roughly 230 Speedy Options workers will transfer to Lockheed Martin.
Additionally Learn: Amentum Faces Development Droop As Authorities Cuts Spending, Analyst Expects Merger To Enhance Margins
The transaction is projected to shut within the second half of 2025 and is predicted to end in round $325 million in after-tax proceeds for Amentum.
Adam Harrison, Senior Vice President of Technique and Company Improvement, stated, “The divestiture of Speedy Options sharpens Amentum’s give attention to mission crucial companies and reinforces our place as a world pure-play supplier of superior engineering and technology-enabled options.”
As of March 31, Lockheed Martin had money and money equal of $1.80 billion.
Amentum plans to launch outcomes for the second quarter of the FY25 on Might 7, 2025.
Final week, Amentum received a $247.6 million contract from the U.S. Division of Protection (DOD) Air Fight Command (ACC), Acquisition Administration and Integration Middle (AMIC), Counternarcotics and World Threats (CN>) Division.
Traders can acquire publicity to the inventory through Invesco Trade-Traded Fund Belief II Invesco S&P SmallCap 600 Income ETF RWJ.
Worth Motion: AMTM shares closed larger by 3.13% to $19.75 on Wednesday.
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