During the first six months of this year, there was a flurry of mergers and acquisitions activity as businesses looked to profit from startups and other smaller companies that had already succeeded in making a name for themselves within their sectors. According to a published report, General Dynamics Corp. is getting in on the action.
Reuters reports that General Dynamics, which is one of the biggest government contractors, said this week it had purchased Network Connectivity Solutions Corp. The company, according to GD, is a supplier of cloud computing and other information technology services to U.S. Department of Defense agencies.
GD is already a massive player within the space and with its later purchase, it enters into the increasingly competitive world of cloud computing. Cloud computing firms have been some of the hottest commodities among private equity and venture capital firms over the past few years as more businesses offset their IT departments to the companies.
GD said the acquisition will allow it to expand its overall portfolio of services that help the Pentagon to reduce costs. A GD spokesman did not acknowledge how much the deal was worth.
Reuters reports that General Dynamics, which is one of the biggest government contractors, said this week it had purchased Network Connectivity Solutions Corp. The company, according to GD, is a supplier of cloud computing and other information technology services to U.S. Department of Defense agencies.
GD is already a massive player within the space and with its later purchase, it enters into the increasingly competitive world of cloud computing. Cloud computing firms have been some of the hottest commodities among private equity and venture capital firms over the past few years as more businesses offset their IT departments to the companies.
GD said the acquisition will allow it to expand its overall portfolio of services that help the Pentagon to reduce costs. A GD spokesman did not acknowledge how much the deal was worth.
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