Northrop Grumman Reportedly Mulling Sale of Its Tech Services Business
If the latest speculation about Northrop Grumman (NYSE: NOC) proves to be true, the aerospace giant might be on the verge of a large-scale divestment. A report published Wednesday by Bloomberg, citing "people with knowledge of the matter," said that the company is mulling the sale of its technology services unit. The deal could bring in at least $3 billion, the article's sources said.
Northrop Grumman has retained an advisor to assist with a strategic review of the division. That advisor was not identified, and it was not immediately clear what other option or options, if any, that the company is considering.
The unit potentially for sale provides IT services and a range of other technology offerings to branches of the U.S. government, most notably the Department of Defense.
Source Fool.com
