PITTSBURGH (AP) -- Defense contractor Northrop Grumman Corp. is seeking a buyer for its advanced engineering and consulting operations, a newspaper reported Thursday.
The company's advisory services unit, known as TASC, could fetch $1 billion, The Wall Street Journal reported, quoting a person familiar with the situation. The Herndon, Va.-based business employs about 5,000 people.
A Northrop Gruman spokesman was not immediately available to respond to an inquiry by The Associated Press.
Goldman Sachs Group Inc. and Credit Suisse Group AG are representing Los Angeles-based Northrop, the Pentagon's third-largest contractor by sales, according to the report.
A deal for TASC could emerge by the end of the next month, the Journal reported, and private-equity firms are among the interested parties.
