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Northrop Will Buy Data Procurement

May 20, 1999|Bloomberg News

Northrop Grumman Corp., the No. 5 U.S. defense contractor, said it plans to buy Data Procurement Corp. for about $33 million in stock to expand its information technology business. Closely held Data Procurement, based in Laurel, Md., will join Northrop's Logicon Inc. division, the company's $1-billion information technology arm. The deal will allow Northrop to expand its development of hardware and software systems for government intelligence and defense. Los Angeles-based Northrop shares rose 75 cents to close at $68.69 on the NYSE.

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