Leidos has entered into a definitive agreement to acquire privately-owned Dynetics, Inc., an applied research and national security solutions company, for $1.65 billion in cash.
Dynetics, headquartered in Huntsville, Alabama, with offices throughout the United States, is a provider of high-technology, mission-critical services and solutions to the U.S. government, with a history of addressing the nation’s most challenging and technologically advanced missions. The addition of Dynetics will enhance Leidos’ leadership position across its Defense, Intelligence, and Civil Groups. The transaction will also accelerate opportunities within the Leidos Innovations Center (LInC), the Company’s innovation engine that researches and develops new technologies and solutions to address the most challenging customer requirements.
Once the transaction is completed, Dynetics will operate as a wholly-owned subsidiary of Leidos. Dynetics’ Chief Executive Officer, David King, will lead the subsidiary and report directly to Leidos’ Chief Executive Officer.
Leidos Chairman and CEO Roger Krone said the addition of Dynetics will significantly increase Leidos’ capabilities for rapid prototyping and agile system integration and production. Dynetics will also accelerate the company’s efforts in hypersonics, space solutions, autonomy and advanced sensors. “With Dynetics, we will build on our existing relationships with key U.S. Government customers, particularly in strategically important Huntsville, Alabama.”
