RESTON, Va., Jan. 14, 2021 /PRNewswire/ — Leidos Holdings, Inc. (NYSE: LDOS) (“Leidos”), a FORTUNE® 500 science and know-how chief, right now introduced the finished acquisition of 1901 Group for roughly $215 million in money. The transaction was previously announced on Dec. 10, 2020.
1901 Group is a number one supplier for managed IT providers and cloud options within the personal and public market. It would function as a wholly-owned subsidiary of Leidos. The acquisition provides practically 400 IT, cloud and cyber specialists to the Leidos crew. This can develop the corporate’s deep bench of licensed technical expertise to help clients with their mission-critical wants.
Headquartered in Reston, Virginia, 1901 Group delivers main cloud, cybersecurity and enterprise-scale digital modernization providers. These and different capabilities enhance efficiency and scale back prices. Based in 2009, the corporate’s spirit and title was impressed by the 12 months 1901, when automation of the meeting line was invented. These manufacturing facility ground ideas function the muse for the corporate’s drive to modernize enterprise IT providers.
“The addition of 1901 Group permits us to work collectively and leverage their spectacular capabilities throughout the enterprise,” mentioned Leidos Chairman and CEO Roger Krone. “We’re thrilled to include their managed providers and cloud computing strategies to supply our clients with the instruments they want for digital modernization.”
“This acquisition will additional allow Leidos to realize a differentiated and scaled protection enterprise,” mentioned Leidos Protection Group President Gerry Fasano. “1901 Group will grow to be a key company asset that we anticipate to generate future progress and speed up revolutionary options for our clients.”
“That is an thrilling day for 1901 Group, as we formally grow to be part of the Leidos household,” mentioned 1901 Group Founder and CEO Sonu Singh. “We’re assured this acquisition will present new alternatives for our crew. Combining our Enterprise IT Operations Facilities and safe FedRAMP platform with the depth and scale of Leidos will enable us to supply clients with extremely sought-after capabilities. We sit up for working collectively to remodel IT service supply.”
Advisors
Holland & Knight LLP is serving as authorized advisor to Leidos. Pillsbury Winthrop Shaw Pittman LLP is serving as authorized advisor to 1901 Group, and Baird served as unique advisor to 1901 Group on this transaction.
About Leidos
Leidos is a Fortune 500® info know-how, engineering, and science options and providers chief working to unravel the world’s hardest challenges within the protection, intelligence, homeland safety, civil, and well being markets. The corporate’s 38,000 workers help very important missions for presidency and business clients. Headquartered in Reston, Va., Leidos reported annual revenues of roughly $11.09 billion for the fiscal 12 months ended January 3, 2020. For extra info, go to www.Leidos.com.
About 1901 Group
1901 Group is a number one supplier of revolutionary IT providers and options in the private and non-private sector market that delivers improved service supply by leveraging our FedRAMP licensed Enterprise IT Operations Middle (EITOC) to supply 24/7 help of end-users, advanced IT infrastructure environments, and mission-critical programs. Headquartered in Reston, VA, 1901 Group has three places of work in Virginia (Reston, Blacksburg, Abingdon), plus personnel in additional than 26 places throughout the USA. The 1901 Group household consists of over 400 specialists serving clients worldwide. We help a extremely expert workforce with a ratio of two/1 know-how certifications to engineers and have been acknowledged as one among Virginia’s Incredible 50 quickest rising companies.
Cautionary Assertion Relating to Ahead-Wanting Statements
The forward-looking statements contained on this launch contain dangers and uncertainties which will have an effect on Leidos’ operations, markets, merchandise, providers, costs and different components as mentioned in filings with the Securities and Alternate Fee (the “SEC”). With out limiting the foregoing, forward-looking statements usually use phrases akin to “consider,” “anticipate,” “plan,” “anticipate,” “estimate,” “intend,” “search,” “venture”, “goal,” “objective,” “might,” “will,” “would,” “may,” “ought to,” “can,” “proceed” and different phrases of comparable that means in reference to a dialogue of the transaction or future working or monetary efficiency or occasions. These dangers and uncertainties embody, however will not be restricted to, financial, aggressive, authorized, governmental and technological components. Accordingly, there isn’t any assurance that the expectations of Leidos can be realized. This launch additionally incorporates statements concerning the proposed acquisition of 1901 Group which can be based mostly on assumptions at the moment believed to be legitimate however contain vital dangers and uncertainties, lots of that are past Leidos’ management, which may trigger Leidos’ precise outcomes to vary materially from these forward-looking statements with respect to the transaction, together with dangers referring to anticipated tax therapy, means to retain key personnel, the dependency of the transaction on market situations and the affect of a change in market situations on the worth to be obtained within the transaction, unexpected liabilities, future capital expenditures, uncertainty as to the anticipated monetary situation and financial efficiency of the corporate following the closing, together with future revenues, bills, earnings, indebtedness, losses, prospects, enterprise methods for the administration, growth and progress of the corporate following the closing, Leidos’ means to combine the companies efficiently and to realize anticipated synergies, and the danger that disruptions from the transaction will hurt Leidos’ enterprise. Whereas the checklist of things offered right here is taken into account consultant, no such checklist needs to be thought-about to be a whole assertion of all potential dangers and uncertainties. Unlisted components might current vital extra obstacles to the conclusion of forward-looking statements. Penalties of fabric variations in outcomes as in contrast with these anticipated within the forward-looking statements may embody, amongst different issues, enterprise disruption, operational issues, monetary loss, authorized legal responsibility to 3rd events and related dangers, any of which may have a cloth adversarial impact on Leidos’ consolidated monetary situation, outcomes of operations or liquidity. For a dialogue figuring out extra vital components that would trigger precise outcomes to range materially from these anticipated within the forward-looking statements, see Leidos’ filings with the SEC, together with “Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations” and “Danger Elements” in Leidos’ annual report on Type 10-Ok for the 12 months ended December 2019, and in its quarterly studies on Type 10-Q which can be found at http://www.Leidos.com and on the SEC’s web page at http://www.sec.gov. The forward-looking statements contained on this launch are made solely as of the date of this launch. Readers are cautioned to not put undue reliance on forward-looking statements. Leidos assumes no obligation to supply revisions or updates to any forward-looking statements ought to circumstances change, besides as in any other case required by securities and different relevant legal guidelines.
Contacts:
Media:
Thomas Doheny
(571) 474-4735
[email protected]
Alyssa Pettus
(571) 992-5499
[email protected]
Buyers:
Peter M. Berl
(571) 526-7582
[email protected]
SOURCE Leidos
