Mergers and acquisitions
Kutler launches investment firm
Longtime mergers and acquisition player Jon Kutler has left Quarterdeck Investment Partners to form private investment firm Admiralty Partners Inc., capitalizing the venture with $70 million of his own money.
Kutler started Quarterdeck in 1992, selling it in 2002 but remaining as chairman and CEO of the mergers and acquisitions division, Jefferies Quarterdeck. His now former firm has named Michael Richter and William Farmer as co-presidents.Input: M&As still hopping
With its 118 mergers or acquisitions, 2005 was an active year in the government IT and defense markets, according to market research firm Input Inc.
Of those deals, buyers making multiple acquisitions made 63. General Dynamics Corp., L-3 Communications Holdings Inc. and Lockheed Martin Corp. led the way, each making at least five buys.Justice wants more on deal
The Justice Department wants more information from General Dynamics Corp. and Anteon International Corp. for its review of the defense giant's proposed acquisition of Anteon.
The reason for the request is not known, but the Justice Department usually takes its time reviewing transactions that involve large companies. It is unknown when the agency will complete its review.
Earlier this month, stockholders of Anteon voted in favor of the IT company's sale to General Dynamics for $2.2 billion.Saber buys Covansys unit
Covansys Corp. will sell its state and local government practice to Saber Consulting Inc. of Salem, Ore., for $40 million.
The Columbus, Ohio, Covansys unit will be integrated into Saber Consulting's operations. The combined company will have a presence in election management, pension administration and health and human services.