Northrop Grumman Corp. closed the acquisition of aerospace and defense technologies firm Orbital ATK Inc.
The defense and global security contractor had earlier secured conditional approval from the U.S. Federal Trade Commission to acquire Orbital ATK. The FTC required Northrop Grumman to supply solid rocket motors to competitors on a nondiscriminatory basis and to separate the operation of that business from other company operations with a firewall.
Orbital ATK will now be known as Northrop Grumman Innovation Systems. Northrop Grumman's board elected Blake Larson, previously COO of the former Orbital ATK, as corporate vice president and president of Northrop Grumman Innovation Systems.
