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The global defence and aerospace company has announced its $484 million bid to acquire a Virginia-based engineering firm.
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Leidos has entered into a definitive agreement to acquire US-based Gibbs & Cox, an independent engineering and design firm, which specialises in naval architecture and marine engineering.
Gibbs & Cox has an extensive global presence, including in Australia, where it supports major defence programs like SEA 1000 (Attack Class Future Submarines), SEA 5000 (Hunter Class frigates), and SEA 1180 (Arafura Class OPVs) from its base in Canberra.
The deal, valued at US$380 million ($484 million), is expected to expand Leidos’ footprint in the maritime market, where it claims it is “under-penetrated”.
“[The] acquisition further positions Leidos for long-term growth in the maritime unmanned market – a market requiring tight integration of ship design and autonomy systems,” the firm stated.
As part of the acquisition, Leidos is expected to onboard Gibbs & Cox’s engineering talent from its 525-member workforce, which include naval architects and digital engineers.
The transaction is expected to close in the second quarter of the 2021 fiscal year, subject to regulatory approval.
[Related: New Leidos-built platform to bolster ISR capability]
