Leidos Holdings, Inc. (NYSE: LDOS) reports that it has completed its acquisition of Gibbs & Cox, Inc. for approximately $380 million in cash.
Headquartered in Arlington, Va., Gibbs & Cox is the largest U.S. independent ship design firm focused on naval architecture and marine engineering.
Leidos says the acquisition positions it to provide a broad set of engineering solutions to the US Navy and to an expanding number of foreign navies.
“We are delighted to welcome the Gibbs & Cox team to the Leidos family,” said Leidos Chairman and CEO Roger Krone. “Gibbs & Cox is widely regarded for developing the most talented and experienced naval designers in the world. We look forward to this new era of innovation while combining the best of both companies.”
“We are excited to join Leidos, whose employee culture and history of innovation strongly mirror our own legendary 91-year history,” said Gibbs & Cox President and Chief Executive Chris Deegan. “Gibbs & Cox will remain the nation’s largest independent provider of maritime services. The combination of our world-class naval architecture, design and engineering services with Leidos’ speed, security and scale will significantly enhance our combined offerings in the fast growing maritime undersea, autonomous and cyber security segments. We look forward to mapping a new Gibbs & Cox with Leidos for the next 90 years.”