Northrop still in the IT game even with divestiture
Northrop Grumman’s decision to sell off its IT services business sent me down memory lane, which got me thinking about how much the market has changed and how in some ways it stays the same.
Within my first couple weeks at Washington Technology in 1996, I tagged along to a previously arranged briefing at BDM International. In the room was CEO Phil Odeen and a couple other executives, including Bill Hoover and Todd Stottlemyer.
One year later, TRW Inc. announced it was acquiring BDM for $1 billion. TRW had its ups and downs for a few years. In 2002, Northrop saw an opportunity and made an offer that eventually became a hostile takeover of the company. To add a little intrigue, Northrop made its bid just as TRW’s chairman, president and CEO at the time in David Cote resigned to go to Honeywell.