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Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS) is a specialized national security technology company dedicated to providing mission-critical products, services, and solutions that align with the United States' national security priorities. Headquartered in San Diego, California, Kratos employs approximately 3,900 engineers and technical professionals who are committed to advancing the technological frontier in several critical areas.
Kratos' core capabilities span sophisticated engineering, manufacturing, and systems integration offerings. These capabilities are pivotal for various national security platforms and programs, including C5ISR (Command, Control, Communications, Computers, Combat Systems, Intelligence, Surveillance, and Reconnaissance), satellite communications systems, electronic warfare, unmanned systems, missile defense, cyber warfare, cybersecurity, information assurance, and critical infrastructure security.
The company's operations are divided into two main segments:
- Kratos Government Solutions (KGS): This segment is an amalgamation of several operating units that focus on microwave electronic products, space, training, and cybersecurity, C5ISR/modular systems, turbine technologies, and defense and rocket support services. The KGS segment is the primary revenue driver for the company.
- Unmanned Systems: This segment encompasses the development and deployment of unmanned aerial, ground, and seaborne vehicles, alongside related command, control, and communications systems. Kratos' advancements in unmanned systems are both innovative and cost-effective, making significant contributions to modern warfare and defense strategies.
Recent achievements by Kratos include the successful integration of Shield AI’s Hivemind with Kratos' Firejet, showcasing the potential of autonomous systems in national defense. Additionally, Kratos has demonstrated the capability of its OpenSpace® Software Ground System to support interoperability and multi-mission operations in collaboration with partners like Telesat Government Solutions and Cobham Satcom.
Kratos remains at the forefront of defense technology, continually evolving to meet the complex demands of modern warfare and national security.
Kratos Defense & Security Solutions (NASDAQ:KTOS) announced a five-year IDIQ contract worth up to $400 million for the U.S. Air Force's Skyborg program. This contract focuses on the development and delivery of air vehicle prototypes. Work will occur at Kratos facilities in Oklahoma and California. Steve Fendley, President of Kratos Unmanned Systems Division, emphasized the program's role in maintaining U.S. technological superiority. The company aims to deliver affordable unmanned technologies, aligning its mission with the Skyborg initiative.
Kratos Defense & Security Solutions (Nasdaq: KTOS) announced recent contract awards totaling approximately $30 million for Command, Control, Computing, Communication, Combat, Intelligence, Surveillance, and Reconnaissance (C5ISR) Systems, primarily in missile defense. The majority of the work will occur over the next 24 months at secure Kratos facilities. Company officials expressed confidence in meeting mission-critical needs, highlighting Kratos' positioning as a leading technology solutions provider for the Department of Defense and national security customers.
On June 30, 2020, Kratos Defense & Security Solutions (Nasdaq: KTOS) announced the acquisition of CPI ASC Signal Division Inc., enhancing its space ground systems business. The acquisition, finalized after receiving regulatory approval, adds market-leading earth station antennas, crucial for government and commercial communications. ASC's product range includes radar antennas for air traffic control and specialty antennas. Kratos aims to leverage this acquisition to expand its satellite communications offerings and bolster its position in the national security sector.
Kratos Defense & Security Solutions (Nasdaq: KTOS) announced a public offering of 13,500,000 shares at $16.25 each, expected to raise approximately $209 million. The offering will close on June 23, 2020, pending customary conditions. Funds will be used for general corporate purposes and potential acquisitions to drive future growth. The underwriters also have a 30-day option to purchase an additional 2,025,000 shares. Goldman Sachs is leading the offering, which is backed by a previously effective shelf registration statement.
Kratos Defense & Security Solutions (NASDAQ: KTOS) has announced a proposed public offering of $200 million of its common stock, with an additional $30 million available through an underwriters' option. The net proceeds will be allocated for general corporate purposes, including strategic acquisitions and operational growth. Goldman Sachs is the lead manager for the offering. This move is part of Kratos’ strategy to enhance its production capabilities and overall market positioning.
Kratos Defense & Security Solutions (Nasdaq: KTOS) announced a $46 million Other Transaction for Prototype Agreement (pOTA) with the U.S. Army's Rapid Capabilities and Critical Technologies Office. This three-year project aims to establish a Directed Energy Testbed focusing on High Energy Laser (HEL) and High Power Microwave (HPM) systems to counter Unmanned Aerial Systems (UAS). The project will enhance DE test methodologies and deploy reduced Size, Weight, and Power (SWaP) HEL and HPM systems at Kratos facilities and government locations in Huntsville, AL.
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS) will acquire CPI ASC Signal Division, Inc. for $35 million in cash. This acquisition enhances Kratos' antenna systems capabilities for satellite communications and defense applications. With 60 years of innovation, ASC's high-performance antennas will increase Kratos' market offerings, including transportable and fixed earth station antennas. The deal, expected to close within 60 days pending approvals, aims to meet growing demand for satellite ground infrastructure essential for U.S. defense missions and commercial uses.
Kratos Defense & Security Solutions (Nasdaq: KTOS) announced the promotion of Marie Mendoza to Senior Vice President and General Counsel. Ms. Mendoza has been with Kratos since 2011 and previously served as Vice President and General Counsel. Her promotion reflects the company's commitment to recognizing internal talent. CEO Eric DeMarco praised her contributions and leadership qualities. Kratos develops advanced technology for national security, specializing in unmanned systems and cybersecurity.
Kratos Defense & Security Solutions (Nasdaq: KTOS) has announced a shift to a fully virtual format for its 2020 Annual Meeting of Stockholders, scheduled for June 4, 2020, at 11:00 a.m. CDT, due to COVID-19 concerns. Stockholders must attend through a live webcast and are encouraged to vote beforehand. Additionally, there was a delay in mailing proxy materials, but the company ensured timely access for stockholders. Kratos specializes in national security technologies and solutions.
Kratos Defense & Security Solutions (NASDAQ: KTOS) has deployed its Mobile Laboratory Product as part of the National Guard's COVID-19 response. This initiative, developed by the Kratos C5ISR Division, supports the Department of Defense’s Analytical Laboratory System program. The mobile labs are designed for detecting CBRNE materials and have been adapted for clinical specimen testing during the pandemic. Since the initial contract in 2015, Kratos has received additional orders for a total of 67 units, enhancing the nation’s pandemic response capabilities.
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