HOOK (dpa-AFX) - Serco Inc, a US subsidiary of Serco, announced that it has completed the acquisition of Northrop Grumman's mission training and satellite ground network communications software business or MT&S.
Mission training and satellite ground network communications software business (MT&S) provides the US military with advanced mission training services, and software that enhances satellite ground network efficiency.
MT&S is expected to generate revenue of around $300 million or 225 million pounds and underlying operating profit of $34 million or 25 million pounds in 2025, before transaction and integration costs.
Following completion, Serco will benefit from approximately seven months of MT&S' financial performance in 2025, contributing an estimated $175 million of revenue and $20 million of underlying operating profit, with transaction and integration costs expected to be around $10 million. The transaction will be mid-single digit accretive to underlying earnings per share in 2026, the first full year of ownership.
Looking ahead for fiscal year 2025, the company still expects underlying operating profit to be about 260 million pounds and revenues of about 4.8 billion pounds.
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