{"id":84470,"date":"2011-07-29T23:44:08","date_gmt":"2011-07-29T15:44:08","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/l-3-to-spinoff-government-services-division-into-new-company\/"},"modified":"2011-07-29T23:44:08","modified_gmt":"2011-07-29T15:44:08","slug":"l-3-to-spinoff-government-services-division-into-new-company","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/l-3-to-spinoff-government-services-division-into-new-company\/","title":{"rendered":"L-3 to Spinoff Government Services Division Into New Company"},"content":{"rendered":"<p>[07-29-11] <b>L-3 Communications Holdings<\/b> will spinoff some of its government services operations in the first half of 2012 to form a new company and free itself from potential conflicts of interest with its parent company, L-3 announced July 28 during its 2011 second-quarter report.<\/p>\n<p>&nbsp;&nbsp; The new company, <b>Engility<\/b>, will provide systems engineering and technical assistance to support <b>U.S. Department of Defense<\/b> customers. L-3 will maintain its cyber security and intelligence businesses, but will combine them under a new National Security Solutions division.<br \/>\n&nbsp;&nbsp; Engility will be led by L-3 Services Group Vice President Tony Smeraglinolo. L-3 said it expects the move to generate annual revenues of $2 billion as part of an effort to sharpen the company\u2019s focus as government spending on contractors is expected to fall. &nbsp;<br \/>\n&nbsp;&nbsp; The move follows calls by L-3\u2019s largest hedge fund shareholder, Relational Investors, to shed nonessential businesses and bolster its lagging stock performance.<br \/>\n&nbsp;&nbsp; \u201cThe reporting persons believe that the market will reward the company with a higher share-price-to-earnings multiple if the company takes strategic and tactical actions to address its business mix. Such actions could include the disposition or spinoff of underperforming or low-growth, low-margin assets,\u201d Relational Investors Director Ralph Whitworth said in an L-3 regulatory filing in June.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[07-29-11] L-3 Communications Holdings will spinoff some of its government services operations in the first half of 2012 to form a new company and free itself from potential conflicts of interest with its parent company, L-3 announced July 28 during its 2011 second-quarter report. &nbsp;&nbsp; The new company, Engility, will provide systems engineering and technical [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-84470","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/84470"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=84470"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/84470\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=84470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=84470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=84470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}