VENTURE CAPITAL POST

Lockheed Martin Corp on Monday said it has delivered the next version of the computer-based logistics system used to support the F-35 fighter jet to the U.S. military for flight testing.

Shape Security, a Mountain View, California-based secretive cybersecurity startup founded by former Pentagon employees, wants to slow down hackers using software that scrambles website codes.

Google Inc. on Friday announced that it had completed the purchase of engineering and robotics company Boston Dynamics. Boston Dynamics is the eight robotics firm that the Internet giant has acquired in the last half-year.

Industry executives and academics said mandatory budget cuts or sequestration have led to job losses and could eventually undermine the competitiveness of the US in the global economy, a Reuters report said.

The F-35 fighter jet dropped its first bomb to hit a ground target in its first delivery test.

The government's sixth largest contractor, United Technologies Corp, cancelled plans to furlough around 4,000 employees.

The US government inked a USD 4 billion missile defense contract with Lockheed Martin.

Pentagon said it still wanted foreign companies to do business in the US, but takeovers must not put national security at risk.