Leidos to purchase Gibbs & Cox for $380 million _ WorkBoat

23. 9. 19. 오전 9:15 Leidos to purchase Gibbs & Cox for $380 million | WorkBoat
February 26, 2021
Leidos to purchase Gibbs
& Cox for $380 million
WorkBoat Staff Shipbuilding News
LCS Freedom class. Lockheed Martin photo
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23. 9. 19. 오전 9:15 Leidos to purchase Gibbs & Cox for $380 million | WorkBoat
Leidos Holdings Inc. announced this week that it has entered into a
definitive agreement to acquire naval architecture and marine
engineering firm Gibbs & Cox Inc. for $380 million in cash.
Headquartered in Arlington, Va., Gibbs & Cox has 525 employees. Over
its 90-plus-year history, Gibbs & Cox has been a leader in maritime
innovation and is on the frontlines of providing maritime solutions,
Leidos said in its Feb. 23 fourth-quarter earnings release. Leidos is a
Reston, Va.-based defense contractor.
The deal extends Leidos into an attractive maritime market where the
company is "under-penetrated" and adds valuable engineering talent
(naval architects and digital engineers) to the team, the company said.
It further positions Leidos for long-term growth in the autonomous
maritime market – a market requiring tight integration of ship design
and autonomy systems. The transaction is expected to close in the
second quarter of fiscal year 2021, subject to customary closing
conditions.
Gibbs & Cox has been the design agent for several military programs
including the LCS-1 Freedom-class and the multimission surface
combatant programs underway at Fincantieri Marinette Marine. In
May, Fincantieri Marinette Marine was awarded the FFG(X) design and
construction contract by the Navy. Gibbs & Cox will serve as the
design agent on the program. According to the contract
announcement, if all options are exercised, the cumulative value of
the contract will be $5.5 billion.
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