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0.0213631739572737 0.0213631739572737 -0.00101729399796539 -0.00254323499491357 0 0.012207527975585 0.0183112919633774 0.019328585961343
Stock impact report

Amentum Announces Agreement to Divest its Rapid Solutions Product Business for $360 Million

Amentum Holdings, Inc. (AMTM) 
Company Research Source: Business Wire
CHANTILLY, Va.--(BUSINESS WIRE)--Amentum (NYSE: AMTM) today announced it has entered into a definitive agreement to sell its hardware and product business, Rapid Solutions, to Lockheed Martin (NYSE: LMT) for $360 million in cash. The transaction, which is subject to customary regulatory approvals and closing conditions, will advance Amentum’s strategy as a pure-play provider of technology-enabled solutions and accelerates its debt reduction objectives.“The divestiture of Rapid Solutions sharpens Amentum’s focus on mission critical services and reinforces our position as a global pure-play provider of advanced engineering and technology-enabled solutions.” said Adam Harrison, Senior Vice President of Strategy and Corporate Development.Rapid Solutions is a manufacturer of products aligned to national security missions. The business, which accounts for approximately 1% of Amentum’s annual Revenues and Adjusted EBITDA, manufactures ISR, advanced communications, and tactical systems to Show less Read more
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