December 9, 1997 |
Litton Industries Inc. plans to buy Primark Corp.'s surveillance and information services unit for $432 million, reducing dependence on defense contracts and boosting its nonmilitary and commercial business. Primark's TASC unit provides information services to U.S. government agencies such as the CIA, as well as to nongovernmental agencies and commercial customers. Waltham, Mass.-based Primark, which will use the cash to repay debt, said it hired BT Alex.
November 13, 1998
* Primark Corp. agreed to buy Dow Jones & Co.'s Edgar Direct unit, which electronically publishes Securities and Exchange Commission filings, for an undisclosed price. Dow Jones, publisher of the Wall Street Journal, also said it is cutting 30 jobs by selling Edgar Direct and restructuring its federal filings unit, which reports on filings to the SEC and other government agencies. * * Neiman Marcus Group Inc.
June 18, 1991
Wellmark Inc., a Westlake Village-based provider of electronic services for processing medical claims, said it was chosen to provide claims-clearing services for a new health-care project in New York state. The project, the Single Payer Demonstration Project, is aimed at increasing efficiency in the processing of third-party insurance claims for health-care providers in New York.
April 7, 1998
Litton Industries Inc. has acquired for $432 million from Primark Corp. an information technology services company that does work for the national intelligence sector and the Department of Defense. Last week Litton purchased TASC Inc. from Primark. TASC, which is headquartered in Reading, Mass., had $440 million in revenues last year and has 2,700 employees. Litton's chief executive, Michael R.
December 18, 1985 |
A group of Los Angeles-area investors plans to buy fledgling Westmark Savings Bank of Newport Beach for $3.5 million in cash. The buyers, organized as Sherman Oaks Financial Corp., plan to move the thrift's headquarters to the San Fernando Valley and change its name to Sherman Oaks Savings Bank.
June 4, 1998 |
Litton Industries Inc. said its fiscal third-quarter net income rose 11% on improved results in its defense and commercial electronics units. The electronics maker and builder of naval destroyers and helicopter carriers said earnings for the quarter ended April 30 rose to $46.8 million, or 98 cents a diluted share, from $42 million, or 89 cents, in the year-earlier period. Per-share results were in line with the 97-cent average estimate of eight analysts polled by IBES International Inc.