U.S. may follow China with first quarter GDP upside surprise

Reuters | April 23, 2019

A temporary government shutdown with no end in sight, rising trade conflicts and a global growth slowdown: the first quarter outlook for the U.S. economy did not look promising at the turn of the year. But Friday’s gross domestic product data for the first three months of 2019 could strengthen the case that while the current period of global expansion is in its late stages, some of the biggest contributors have yet to run out of steam. After China’s economy defied expectations that it would slow further in January-March, U.S. growth is expected to be 2.1 percent in the same period, although the range of analysts’ estimates was wider than usual at 1.0 to 2.9 percent.

Spotlight

As the California State Assembly Committee on Local Government considers Assembly Bill 504, Mayor Kevin L. Faulconer joined a coalition of civic leaders and community residents in a rally against the bill, which thwarts the ability of Civic San Diego to revitalize urban neighborhoods.

Spotlight

As the California State Assembly Committee on Local Government considers Assembly Bill 504, Mayor Kevin L. Faulconer joined a coalition of civic leaders and community residents in a rally against the bill, which thwarts the ability of Civic San Diego to revitalize urban neighborhoods.

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EMERGING TECHNOLOGY, GOVERNMENT BUSINESS, CYBERSECURITY

Electrosoft Awarded $11.7M GSA Contract to Improve Identity, Credential and Access Management (ICAM) Governance and Solutions

Electrosoft | September 19, 2022

Electrosoft Services, Inc., an award-winning federal IT and professional services firm specializing in cybersecurity, announced today it has been awarded an $11.7 million prime contract from the General Services Administration (GSA) Office of Government-wide Policy (OGP), Identity Assurance and Trusted Access Division (IATAD). The IATAD coordinates the government-wide civilian agency execution of ICAM policies and standards to align with the Federal ICAM (FICAM) Architecture. Electrosoft will support IATAD programs to assure the availability of a consistent and effective set of ICAM policies, standards and governance practices and compliant, interoperable and secure ICAM products and solutions in the marketplace. Under the newly awarded Federal Public Key Infrastructure (FPKI) Subject Matter Expert (SME) Support Services contract, Electrosoft will assist IATAD with development, management and execution of the division's responsibilities from an innovative and strategic perspective, including: FPKI policy and operational governance including support to the FPKI Policy Authority (FPKIPA) and associated working groups; Strategy development for test and evaluation of shared ICAM solutions under the FIPS 201 Evaluation Program, including operating the Physical Access Control Systems (PACS) test laboratory; and Guidance and playbook creation based on the FICAM Architecture and identity management policies, standards and initiatives. "GSA leads the field in delivering government-wide trust services and ICAM solutions that enable agencies to better achieve their mission goals, Under this contract, Electrosoft will leverage more than 16 years of FPKI and ICAM thought leadership to provide the GSA OGP IATAD with support and subject matter expertise to meet their mission objectives." -Dr. Sarbari Gupta, Electrosoft CEO. About Electrosoft: Electrosoft delivers comprehensive technology-based solutions and services that propel mission success for federal government customers. Specializing in cybersecurity, Electrosoft supports civilian and defense organizations in advancing cybersecurity postures, modernizing technology ecosystems and adopting agile approaches to improve operational efficiency and security. Recognized for deep domain knowledge and mature management practices, the company is rated at Maturity Level 3 for CMMI-DEV and CMMI-SVC and is certified under ISO 9001, ISO 20000-1 and ISO 27001. The rapidly growing 8(a), economically disadvantaged, women-owned small business (EDWOSB) and WOSB is headquartered in Reston, Virginia.

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EMERGING TECHNOLOGY

AE Industrial Partners Completes Investment in York Space Systems

York Space Systems | November 15, 2022

AE Industrial Partners, LP ("AEI"), a leader in space investing and a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets, announced today that it has completed its majority stake investment in York Space Systems ("York" or "the Company"), an independent provider of small satellites, satellite components and turnkey mission operations. Dirk Wallinger, who founded York in 2012, will remain in his current role as CEO & Board Director, and Charles "Chuck" Beames will continue to serve on the Board of Directors. They will also maintain significant ownership positions in York. Terms of the transaction were not disclosed. Headquartered in Denver, CO, York manufactures and architects low Earth orbit ("LEO"), geosynchronous equatorial orbit ("GEO"), and cislunar spacecraft solutions for the proliferated satellite market. Its products are purposefully designed to balance scalability, manufacturability, and efficiency to meet the schedule-driven, high-volume demand for customers' small satellite constellations. York's spacecraft solutions are designed for all mission types, including communications, EO/IR, radiofrequency, hyperspectral, weather, remote proximity ops, and more. "York has transformed the small satellite market with its complete mission solutions and mass manufacturing capabilities. The Company has become a critical partner to the Space Development Agency ("SDA"), Space Force, and other national security customers given its ability to deliver new satellite technology solutions faster and more cost efficiently than any other player in the market, With significant momentum from multiple marquee national security LEO constellation wins, York now has the ability to manufacture satellites at mass production level scale, which is transformative to the commercial space industry. We are excited to collaborate with Dirk, Chuck and the entire York team as the Company enters into this next stage of growth and development." -Kirk Konert, Partner at AEI. York currently serves a variety of leading government and commercial customers. The SDA recently awarded York an additional contract with a total potential value of approximately $200 million. Known as the T1DES program, York will build and operate 12 prototype satellites that will test satellite communications from LEO to augment the Tranche 1 Transport Layer constellation. As previously announced, York is also providing spacecraft solutions as part of both Tranche 0 and Tranche 1 of the SDA's Transport Layer and has a contract with the U.S. Department of Defense's new proliferated LEO constellation. AEI's experience building other space companies in their portfolio coupled with their strategic investment in York empowers us to continue to compete with the world's biggest aerospace companies while still maintaining the highest level of efficiency and affordability for our government and commercial customers, said Mr. Wallinger. With rote production now well underway at both our Denver Tech Center and downtown facilities, York is well-positioned to meet today's surging commercial and DoD market demand. We are optimistic about the opportunities ahead. About York Space Systems: Headquartered in Denver, CO, York Space Systems was founded in 2012 to radically improve spacecraft affordability and reliability, transforming and enabling next generation space mission operations worldwide. An independent provider of small satellites, satellite components and turnkey mission operations, York's products and solutions are used by both government and commercial customers. About AE Industrial Partners: AE Industrial Partners is a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from our deep industry knowledge, operating experience, and relationships throughout our target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment and the ILPA Diversity in Action initiative.

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EMERGING TECHNOLOGY, CYBERSECURITY

Viasat & Inmarsat Receive UK Government Approval for Proposed Combination Under National Security & Investment Act

Inmarsat | September 17, 2022

Viasat Inc., (NASDAQ: VSAT), a global communications company, and Inmarsat, a leading provider of global mobile satellite communications services, today announced the receipt of approval of the proposed combination of their businesses by the UK Government under the National Security & Investment Act. The Secretary of State for Business, Energy and Industrial Strategy (BEIS) has announced that the transaction does not pose a risk to the UK's national security. In March 2022, the companies committed to economic undertakings with BEIS, which underlined their pledge to strengthen and advance the UK's National Space Strategy. The economic undertakings include an expansion in the number of highly skilled jobs in key areas and a 30% increase in overall research and development spending in the UK. "The combination of Viasat and Inmarsat creates a leading global communications innovator with enhanced scale and scope to affordably, securely and reliably connect the world. The UK Government's clearance of Viasat's proposed acquisition of Inmarsat under the National Security and Investment Act is another important step forward on the road to closing the deal, and we would like to thank the UK Government for their close collaboration throughout the process. Viasat has been a trusted partner of the UK's defence and national security communities for more than a decade, including in the provision of its market-leading encryption products. The combined company, whose global international business headquarters will be situated in the UK, will build upon the strong UK relationships that Viasat and Inmarsat already enjoy and allow us to deepen our contribution to the UK's National Space Strategy." -Mark Dankberg, Executive Chairman and CEO of Viasat. Rajeev Suri, Inmarsat CEO, added: Inmarsat is proud of our decades of close work with the UK government. Today's approval brings us closer to delivering the new jobs and investment to the UK that have been committed by both Inmarsat and Viasat. Together, we will be well-positioned to compete in a robust market that has both well-funded new entrants and other industry players in the process of consolidating. About Viasat: Viasat is a global communications company that believes everyone and everything in the world can be connected. For over 35 years, Viasat has helped shape how consumers, businesses, governments and militaries around the world communicate. Today, the Company is developing the ultimate global communications network to power high-quality, secure, affordable, fast connections to impact people's lives anywhere they are—on the ground, in the air or at sea. About Inmarsat: Inmarsat delivers world leading, innovative, advanced and exceptionally reliable global, mobile communications across the world – in the air, at sea and on land - that are enabling a new generation of commercial, government and mission-critical services. Inmarsat is powering the digitalisation of the maritime industry, making operations more efficient and safer than ever before. It is driving a new era of inflight passenger services for aviation, while ensuring that aircraft can fly with maximum efficiency and safety. Furthermore, Inmarsat is enabling the rapid expansion of the Internet of Things (IoT) and enabling the next wave of world-changing technologies that will underpin the connected society and help build a sustainable future. And now Inmarsat is developing the first-of-its-kind, multi-dimensional communications network of the future, ORCHESTRA. In November 2021, Inmarsat and Viasat announced the planned combination of the two companies, to create a new leader in global communications. The deal is scheduled to close in the second half of 2022.

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