2019 Look Ahead: TECHNOLOGY
If everything goes according to plan, 2020 will be the year the ViaSat-3 satellites begin providing broadband communication from space. The satellites’ design will offer “unprecedented” speed and flexibility, according to their maker. 2019 will be a year to get ready.
General Atomics Aeronautical Systems Inc. received a $291.4 million contract covering support and services for the U.S. Air Force fleet of MQ-9 Reaper remotely piloted aircraft.
Achates Power, the Sorrento Valley business developing opposed-piston truck and military engines, has named David Crompton CEO. The business has set a goal of creating a low-emission internal combustion engine.
Cubic Corp. said on Jan. 2 that it acquired Gridsmart Technologies Inc. for $87 million in cash.
Sempra Energy announced on Jan. 2 that it agreed to sell its non-utility U.S. natural gas storage facilities in Mississippi and Alabama to ArcLight Capital Partners for $332 million in cash.
Kratos Defense and Security Solutions Inc. recently received approximately $65 million worth of work in the space and satellite communications realm. The work came in the form of multiple contracts. At least one customer exercised an option on previously awarded work.
Cubic Corp.’s defense business received a $7.6 million U.S. Navy contract to support H-60 helicopters, known in the Navy as Sea Hawks.
Cohu Inc., the Poway-based maker of test equipment for electronics factories, has named Ritu Favre to its board of directors, increasing the number of board seats from eight to nine, effective Jan. 2.
Andy Altman, co-founder of GigTown, has taken a seat on the board of directors at CourseKey Education. The latter company made the announcement in late December.
The U.S. Navy announced it has awarded a $21.7 million contract modification to the San Diego office of Raytheon Co. The deal covers life cycle engineering and support services for the integrated shipboard electronic systems of the San Antonio-class amphibious ships.
Chilquinta Energía, the electric utility in Chile owned by Sempra Energy, has closed its acquisition of two major transmission lines for $225.5 million cash. The seller was a South American subsidiary of Virginia-based AES Corp.
Get ready for the day … and the year. A panel of specialists will offer their forecasts for business in 2019 when the San Diego Business Journal presents its Economic Trends breakfast.
Dan Yates and Steve Sefton accomplished quite a feat in 2018 by opening the first new locally based bank in San Diego County in more than a decade.
Polish Oil & Gas Co. has signed a definitive agreement with San Diego-based Sempra Energy to export liquefied natural gas (LNG) through Sempra’s proposed Port Arthur, Texas liquefaction and export facility. The pact could lead to 20 years of exports.
FINANCE: Name Change Brings Diversified Services More Fully Into Operations
What does the word “internet” mean to you? For the average reader, it’s not quite what it meant during those heady dot-com days of 20 years ago.
As the mortgage market gets more competitive and the wider economy grows more volatile, Mary Ann McGarry and her fellow investors at Guild Mortgage are taking things in stride.
Kratos Defense and Security Solutions Inc. said on Dec. 18 that it received a contract award for products and hardware supporting military electronics. The deal is worth approximately $4 million and the business did not name its client.
Cubic Corp.’s newest technology acquisition, Trafficware, celebrated the expansion of its space in Texas during ceremonies on Dec. 17.
Mission Federal Credit Union announced on Dec. 14 that it has moved its administrative offices to Scripps Ranch.
Sempra Energy announced on Dec. 13 that it wrapped up its sale of U.S. solar assets to Consolidated Edison for $1.6 billion in cash.
Kratos Defense and Security Solutions Inc. said on Dec. 12 that it is a subcontractor to Space Vector Corp. on a rocket project that may last up to seven years. The financial implications to Kratos (Nasdaq: KTOS) were not immediately clear.
2020 will be the end of an era as manufacturing at Chula Vista’s major aerospace plant — now overseen by the Collins Aerospace unit of United Technologies Corp. — winds down.
Viasat Inc. has entered an agreement with Sandler Partners that will let Sandler resell the Carlsbad company’s satellite internet service to business customers. Financial terms of the deal were not disclosed.
SERVICE: Satellite Imagery Helps Detect General Location
The drinking water flows from a source in the mountains to the customer’s tap, but somewhere in the sprawling network of pipes, part of it disappears.
Mission Federal Credit Union has named Jojo Seva as its chief information officer, making the announcement on Dec. 10. Seva is a recognized leader in core banking system technology, artificial intelligence, enterprise digital transformation and information security.
The U.S. Navy awarded BAE Systems San Diego Ship Repair in Barrio Logan a $78.8 million fixed-price contract to maintain, modernize and repair the USS Shoup.
RF Industries, which makes specialized electronic connectors, said it increased annual sales 87 percent in the recently ended fiscal year. Fiscal 2018 sales were approximately $58 million, compared to $31 million in fiscal 2017.
Defense Secretary James Mattis called for continued, robust defense spending during a Dec. 1 appearance at the Ronald Reagan Presidential Library in Simi Valley, and appealed for help from California’s advanced technology sector. I
The U.S. Air Force, acting on behalf of the French Air Force, awarded General Atomics Aeronautical Systems Inc. a one-year, $26.7 million contract for logistics support for France’s MQ-9 Reaper remotely piloted aircraft.
Viasat Inc. reported Dec. 4 that the U.S. Army has certified one of the company’s modems — the Mobile Broadband Router 4020 — for use on the military’s Wideband Global SATCOM network.
Qualcomm Inc. and Nokia announced they passed another milestone on the road to commercializing fifth-generation wireless service — or 5G — by early 2019. Service is contemplated in the United States, Europe, South Korea, Japan, China and Australia.
NASA announced on Nov. 29 that nine teams will be able to bid for work under its Commercial Lunar Payload Services program. General Atomics is part of the team led by Draper.
Another European country is getting in line to buy aircraft from General Atomics Aeronautical Systems Inc. The Poway business said Nov. 19 that the Belgian government wants to begin negotiations on a purchase.
Made in America? That seems to be an old-fashioned idea. The assertion that the United States imports more than it exports seems to hold true when consumers look at their clothes hampers or their electronic gadgets.
DEFENSE: BACN Potentially Worth $4.7B For Battlefield Management
An essential communications conduit on the battlefield in Afghanistan. A multibillion-dollar business opportunity. And a channel for fraud. A defense electronics project run out of Northrop Grumman Corp.’s San Diego offices has proven to be all three, and like a character in a novel, it presents a multifaceted and complicated profile.
Cubic Corp. priced a follow-on offering of 3.3 million shares of common stock at $60 per share, announcing the move late Nov. 28. Cubic plans to use proceeds to pay for its acquisition of Trafficware.
MaxLinear Inc., a fabless semiconductor company based in Carlsbad, increased the size of its board and named two new directors, Daniel Artusi and Carolyn Beaver.
The U.S. Air Force awarded Northrop Grumman Corp. a $490 million contract to build three Global Hawk autonomous spy aircraft for Japan under a foreign military sale.
AUTOS: New Car Report Shows Toyota And Honda Top Sellers
Electric vehicles are making inroads in San Diego County.
Cubic Corp. announced on Nov. 26 that it plans to make a follow-on offering of 3.3 million shares of common stock, partially to pay for its October acquisition of Trafficware.
Cubic Corp. scored big wins in fiscal 2018, pulling down contracts for mass-transit fare collection systems in New York, Boston, the San Francisco Bay Area and Brisbane, Australia.
ScaleMatrix, a San Diego-based data center company and provider of colocation services, launched a partnership with Hewlett Packard Enterprise (HPE) on Nov. 13.
SERVICE: Contractors Play Big Role in $30B Market
Sayed Ali’s face is something to behold. Ten seconds ago, a reporter asked him for the most obscure language his business deals in. Taking a few steps through his Scripps Ranch office, he stops at a low cubicle wall and consults the woman on the other side.
FINANCE: Banks Back Efforts; Infrastructure and Housing Part of the Plans
Many years into the future, when out-of-town visitors decide they want to grab a great bowl of pho, they may head en masse to San Diego’s Little Saigon district — just as today’s tourists go to Little Italy for pasta.
With its sawtooth roofline and its big, multipaned windows, the old Consolidated aircraft factory looks like something from a black-and-white movie. The U.S. Navy, which owns it, thinks the 48.7 acres beneath it could go to a better use. The same goes for 21.8 acres nearby holding a warehouse and parking lot.
Rancho Bernardo-based LRAD Corp. said it received a $3.2 million order from the National Guard for an undisclosed number of 100X MAG-HS kits, one of its high-decibel sound systems able to send intelligible communications over very long distances.
Forecast 3D liked its new, industrial-sized printing machines so much, it got more.
General Atomics Aeronautical Systems Inc. announced it has reached a deal to provide its MQ-9 unmanned aircraft to Australia. GA-ASI builds its Predator family of aircraft in Poway.
Cubic Corp. closed out its 2018 fiscal year reporting annual net income of $12.3 million on record net sales of $1.2 billion. It said it expects sales to grow in fiscal 2019.
San Diego County stands to get approximately $450 million worth of work from the Pentagon’s latest order for F-35 Lightning II aircraft, also known as the Joint Strike Fighter. The main beneficiary is Northrop Grumman.