Anduril unveils ‘Copperhead' line of autonomous underwater vehicles
'Copperhead enables a comprehensive, intelligent maritime capability that allows operators to quickly respond to threats in the undersea battlespace, at a fraction of the cost of legacy options,' the company said in a statement Monday.
The product line includes two variants, each offered in two different sizes. The baseline Copperhead is designed for rapid-response missions, the firm said, including environmental monitoring, search and rescue and infrastructure inspection.
The vehicle, which can reach speeds greater than 30 knots, can carry a range of payloads, including active and passive sensors and magnetometers, which can detect changes in the Earth's magnetic field.
The Copperhead-M variant is a munition that can be deployed from a larger system, specifically Anduril's Dive-LD and Dive-XL vessels. It offers 'torpedo-like' capabilities and is designed for mass production, Anduril said.
A Dive-XL can carry dozens of the smaller Copperhead-M and 'multiple' of the larger size missile.
'This makes it possible for a fleet of Dive-XLs to control ocean areas with an unprecedented level of autonomous seapower,' Anduril said.
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Forbes
3 hours ago
- Forbes
The M&A Market Is Back: Why Now Is The Right Time For Deals
At the end of 2024, as interest rates and inflation were dropping, private equity dry powder was piling up and a new president who many thought would be business-friendly was preparing to return to Washington, businesses, banks and analysts thought this would be a huge year for M&A transactions. We all know what happened instead. President Donald Trump's second term has been full of new ideas on the economy: Tariffs on nearly every country with percentages and effective dates that for months seemed to change by the day, canceled incentives and federal grants from the previous administration, and a domestic economy that has often frozen in place because nobody is sure what to expect next. But M&A hasn't stopped altogether. A mid-year trend report from PwC Global found that while the number of M&A deals in the first half of 2025 was down 9% year-over-year, deal values were up 15%. And while three in 10 U.S. companies had paused or revisited pending deals this spring, PwC found that 51% were still pursuing deals. This month, many of Trump's new tariffs have solidified and are actually being collected. The recently passed so-called 'Big Beautiful Bill' also puts in place financial policy for the next several years. No matter how good or bad that is for companies, it gives them something that's been elusive so far this year: A baseline to work from in making financial projections. And while finance professionals and analysts say that companies are still approaching transactions with great care, the M&A doors are reopening. Today's Forbes CFO newsletter focuses on today's M&A market: What the landscape looks like, who should be making deals, and what companies approaching the buy and sell markets should do. I spoke with two M&A experts and advisers—Bill Haemmerle, partner in the transaction advisory service practice at Wiss & Company; and Scott Mozarsky, co-CEO and managing director of M&A advisory firm JEGI LEONIS—about it, and their comments are throughout this newsletter. This is the published version of Forbes' CFO newsletter, which offers the latest news for chief finance officers and other leaders focused on the budget. Sign up here to get it delivered to your inbox every Tuesday. TIME FOR ACTION Since the beginning of the year, many companies that had been interested in deals just seemed to put things on hold, according to Haemmerle. He currently works with lower middle market companies, and many of the potential deals involving companies that were likely to be touched by tariffs—especially those dealing with manufacturing, importing and transportation—were paused. Now that there's some certainty out there, Haemmerle said, the larger deal market is restarting. He said that kind of activity takes a few months to get to the companies he works with, but it's coming. Bill Haemmerle, partner in the transaction advisory services practice at Wiss & Company. Wiss & Company 'I always view that as the canary in the coal mine—when folks are calling us about financial due diligence, quality of earnings—that things are starting to pick up again,' he said. Wiss has recently been working with companies on deals across a spectrum of industries. These include services businesses in areas that are less likely to be impacted by tariffs and had seen M&A activity in the beginning of the year—HVAC, engineering and healthcare—as well as others that are more affected, including manufacturing and transport. Mozarsky, who works a lot with software companies, especially those with vertical functions in areas like legal compliance, payments and supply chain, said that concerns about the full impact of tariffs—including the end impact on consumers, who may ultimately spend less as prices get more expensive—served to slow down the M&A process in the first half of the year. But now, he said, things are more active. Much of that activity is among groups that were ready to go in January, Mozarsky said. Founders who were hoping to sell off their startups to larger companies are finalizing transactions, accepting the larger risk in general, and taking a good result instead of the great result they may have been holding out for. Larger companies hoping to divest portions of their business to become more focused are going forward with those transactions for similar reasons. Private equity has also been making moves. Firms generally hold on to companies for a short span of years, but Mozarsky said the weak M&A market in the recent past may have extended those timelines a bit too much. Even though the larger economic forecast has been all over the map, he pointed out that company valuations and the stock market seem to be resilient enough for them to move forward. SEPARATING THE NOISE FROM THE REALITY Mozarsky said he's seeing a lot more caution and care go into deals from all sides. While most business valuations haven't seen huge setbacks as of now, some of them aren't as strong as they likely would have been a year ago, when tariffs were not a concern. So acquirers are being creative. JEGI LEONIS co-CEO and managing director Scott Mozarsky. JEGI LEONIS 'We're seeing structures around the deals—basically earnouts and other types of structures that effectively are saying to sellers, 'Look, you can get a great deal, but you're going to have to prove it,'' he said. But the fear of choppy markets because of tariffs hasn't come to bear just yet. In the short time since the August 9 effective date of most of the tariffs, markets have moved the most on positive earnings reports, investments and tech announcements. Investors, he said, have been working to look past the noise of ever-changing tariff announcements and zoom in on what truly matters: Business fundamentals. Does this deal make sense for the business? Will it bring value? Is the price fair? Are there any uncertainties that new tariff policies could awaken, and are you prepared to deal with them? Haemmerle said that if the fundamentals are right, now is a good time for M&A transactions. 'If you've done your strategic plan, you've identified an opportunity in the market, and it fits well within what you're trying to accomplish, I don't think there's really a bad time to do a transaction, and I think you'd be missing out on the opportunity, at the cost of doing a deal,' he said. READY TO SELL For a company looking to sell itself, now is the time to get your financial house in order. Companies that can show clear figures on profitability—or the path to get there—gross margins, customer retention and meeting KPIs will have an advantage. Mozarsky said that he's helped customers make great deals even during the last few years, which were sluggish in terms of dealmaking. 'Generally, good businesses, the buy-side investors will be willing to pay a high price for them,' he said. 'Generally, the debt markets will be supportive of deals involving those businesses, which allows buyers to pay a higher price for them. And generally, sellers will get very good ROI on their investments because they've done a good job working with the management team, or the management team has done a good job of building a good business.' To keep a high valuation, Mozarsky advised companies to maintain their top level of performance: Move toward profitability, invest in the future, and continually develop new technologies and ideas, such as generative AI. Differentiation is also key: What specific value would a buyer get from purchasing your specific company? Haemmerle said companies that are more likely to be impacted by tariffs or new economic policies should concentrate on getting their operations organized and in good shape—especially if the situation now seems too chaotic for a transaction. When things settle down, he said, then you'll be ready. FOCUS ON THE LONG TERM There's no question that many businesses have had a bumpy ride this year, and the coming quarters may be even rougher. But both Mozarsky and Haemmerle are anticipating an active end to 2025, as far as deals are concerned. Mozarsky said JEGI LEONIS has been busy this summer with the meetings, research and pitches that precede M&A deals—and there has already been a lot of activity in some of the software deals he works on, which he said is seen as tariff (and potentially recession) resilient. Mozarsky said that while tariffs are still a bit of an X factor for business, using M&A now to lock in business changes is a smart move. If a company is looking to add on to its portfolio or functions, acquiring the other business sooner rather than later allows for more definitive forecasting—and more stability if the markets vacillate on White House policy pronouncements. Haemmerele also expects more activity as the year goes on. He also hopes that CFOs who have been waffling on deals will find clarity and make the deals if they work, or renegotiate or walk away and look elsewhere if they don't. While more risk in a deal decreases its value, Haemmerle said the big picture is important. Deals change your company profile for the long term—which is where the focus should be. 'It's short term,' he said. 'I think CFOs need to remind themselves that it's not a permanent change in the market. This uncertainty isn't always going to exist.' COMINGS + GOINGS Hotel and lodging company Marriott International selected Jen Mason to be its next executive vice president and chief financial officer, effective March 31, 2026. Mason joined the firm in 1992 and currently works as global officer, treasurer and risk management. She will succeed Leeny Oberg, who is retiring. selected to be its next executive vice president and chief financial officer, effective March 31, 2026. Mason joined the firm in 1992 and currently works as global officer, treasurer and risk management. She will succeed Leeny Oberg, who is retiring. Digital advertising platform The Trade Desk appointed Alex Kayyal as its new chief financial officer, effective August 21. Kayyal most recently worked as a partner at Lightspeed Venture Partners, and he will succeed Laura Schenkein. appointed as its new chief financial officer, effective August 21. Kayyal most recently worked as a partner at Lightspeed Venture Partners, and he will succeed Laura Schenkein. Private members' club Soho House & Co announced Neil Thomson as its new chief financial officer, effective August 18. Thomson previously worked as chief financial officer of Tasty Restaurant Group, and he succeeds Thomas Allen. STRATEGIES + ADVICE New technology powered by generative AI and changes in the strategic role of the CFO are bringing disruption not only to the finance department, but to business as a whole. Here are some ways that CFOs can help foster these changes and keep their company ahead of the innovation curve. Fear is often thought of as a bad thing, but in the right context, it can help sharpen leaders' instincts and decisions. In a talk earlier this summer, Perplexity CEO Aravind Srinivas highlighted how embracing a bit of fear keeps him going. QUIZ Which airline is gradually getting caught up on flights after mass cancellations on Monday because of a strike of its unionized flight attendants? A. Air Canada B. Qantas C. Spirit D. Volaris See if you got the right answer here.
Boston Globe
8 hours ago
- Boston Globe
Grace Lee reached the pinnacle of her banking career. Then she walked away.
In January, Grace Lee was honored by the Greater Boston Chamber of Commerce with a Pinnacle Award. Caroline Alden Yet she wanted to be there for her husband as he faced a series of unexpected health challenges and for her ailing 91-year-old mother in Los Angeles. Advertisement Seeing Hao step off the biggest stage of her career inspired Lee to do the same. It's not the first time people who have reached the top and found that life happens and priorities change. But it's probably the road less traveled because it takes a certain amount of courage and confidence to pull it off. Some people will take a break, others will take a step back. Lee prefers to call her shift a 'pivot.' Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up After serving three years as the top M&T leader in Massachusetts, Lee started this week as the CEO of St. Mary's Credit Union based in Marlborough, a job that entails a lot less traveling and far fewer branches to manage — seven instead of 64. Advertisement At first, Lee couldn't see herself going from a major commercial bank to a mid-sized credit union. But in a career that spanned both public and private sectors including serving as first deputy treasurer and general counsel in the state Treasurer's office, she realized she had never been a CEO before. 'I get to learn how to run and operate a bank,' she said. Most people would have just stayed at the same company in a lesser role or taken a sabbatical. Grace Lee wrestled for months about whether she should leave her job as regional president of M&T Bank in Massachusetts, a role she loved and worked hard to get. M&T Bank 'This was a me issue,' Lee explained. 'I can't do anything part-time or dial back. So if it's an ocean, I will fill it. If it is a pond, I will fill it. If it is a tea cup, I will fill it … For what I need now, I need to be in a pond where I kind of cap what full looks like.' But there was also the clarity that comes when your family needs you. 'Three years from now, my mom ... she may not be here,' Lee said, getting emotional. 'I can't look back, and say I had to host an event, or I had to go to a meeting in Buffalo. This can't be the reason why I'm not there.' Related : Advertisement The timing felt right after the Yvonne Hao served as secretary of economic development in Governor Maura Healey's administration. Webb Chappell for the Boston Globe 'I told the governor someone else will do the job way better than me,' Hao recalled saying, 'but only I can take care of my mom or spend time with my kids.' After her departure, Hao heard from others who were also contemplating a career pause as well as retired executives who wished they had taken a step back to deal with family matters. The burden of caregiving often falls on women, and during the pandemic when schools and daycares closed. What provided clarity to Hao was something she learned at Amazon, 'There are very few things in life that are one-way doors,' Hao said. 'The thing that I think about the most [with] the one-way door is the time with the people you love. Once someone dies, that's the ultimate one-way door. You're not going to get that time back.' For employers, it can be hard to let high performers walk out the door. Hao promised Healey that she would help recruit an exceptional successor, and she did: Advertisement M&T is evaluating candidates to replace Lee. She was promoted to regional president in April 2022, just as M&T completed its acquisition of People's United Financial, where Lee was an executive. With her deep roots in the community, Lee emerged quickly as someone who could help the Buffalo bank raise its profile in Massachusetts, said M&T CEO René Jones in an interview. When Lee first told Jones she needed a change, he wanted to understand why. And as much as he did not want her to leave, he realized it was what was best for her. 'After I listened to Grace, I thought to myself, 'Well, OK, here we go. This is actually going to work out,' ' Jones recalled, as we sat in M&T office's on the 18th floor of Winthrop Center. 'You're part of the M&T family, but you're going to go out and do things that make us super proud.' Grace Lee took a new job as CEO of St. Mary's Credit Union in part to have more time to be there for her 91-year-old mother in Los Angeles, pictured on her phone. John Tlumacki/Globe Staff During the interview process with St. Mary's, Lee was upfront about her need to take a less-consuming job. It was then up to the St. Mary's search committee to suss out whether Lee would find the role fulfilling. And when it moved forward with an offer, there were new concerns: Could the 112-year-old institution that started out as small parish credit union afford Lee, and what if M&T decided to counter? Ultimately, Lee and St. Mary's found themselves on the same page about her next chapter. 'She picked us because she'll have a very meaningful impact on the organization and on the communities we serve,' said Jerry Richer, a retired attorney who serves as St. Mary's board chair. 'She won't have other people above her like she did at M&T to fall back on ... But I'm confident she'll do what she has done in the past, and that is meet the challenge.' Advertisement Shirley Leung is a Business columnist. She can be reached at
Business Insider
14 hours ago
- Business Insider
Archer Aviation Stock Could Trade Above $10, Says Five-Star Investor
According to one five-star investor, Archer Aviation (ACHR), the eVTOL aircraft company, is trading at a discount to its true potential. While the stock has stayed close to $10 for most of the year, this investor points out that Archer is beginning to unlock opportunities in both commercial air taxi services and defense work. As a result, he believes the company's current market value of about $6 billion could expand in the years ahead. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Early Contracts and Anduril Partnership Boost Outlook Stone Fox Capital, a five-star investor, recently issued a bullish stance on Archer Aviation. He first noted progress in aircraft production. The company now has six aircraft in build and three more in final assembly. At the same time, Archer has secured international launch programs in the United Arab Emirates, Ethiopia, and Indonesia. These contracts include not only the delivery of aircraft but also support services such as training and maintenance. Management has said the initial value of these programs ranges from $18 million to $30 million each. In total, Archer could generate $50 million to $100 million in early revenue even before its main U.S. launch. The investor also pointed to Archer's new partnership with defense firm Anduril. Anduril is a private company valued at more than $30 billion after rapid growth in 2024. Archer's work with Anduril opens a market in defense where hybrid aircraft could be developed. This expansion comes alongside its commercial focus and gives the company another path to growth. Certification Delays and Cash Burn Remain Risks Nevertheless, Archer's progress has not been free of issues. The Midnight aircraft had to change its front propeller design, and some pilot tests focused only on standard takeoff and landing, without vertical lift. This raised questions about whether the aircraft was fully ready for air taxi use. Concerns over transparency also surfaced after a recent test flight used an older version of the aircraft. Even with these hurdles, Archer maintains a large order book worth about $6 billion and plans to scale production to 650 aircraft each year at its Georgia site. With $1.7 billion in cash, the company has the means to fund operations, although it reported a cash use of about $127 million last quarter. In closing, Stone Fox Capital highlights that Archer has a path toward a multi-billion-dollar revenue base. He views the stock as attractive for investors who can accept the risks tied to certification delays and uncertain demand. Is Archer Aviation Stock a Good Buy? an average 12-month price target of $12.06. This implies a 22.81% upside from the current price.
