L3Harris has approximately $18 billion in annual revenue and 50,000 employees, with customers in 130 countries. The replay will be available through Feb. 11, 2020.Leidos management will host a conference call beginning at 7:30 a.m. He previously worked as a congressional reporting fellow for the Texas Tribune and Washington intern for the Durango Herald. RESTON, Va., Feb. 4, 2020 /PRNewswire/ -- Leidos Holdings, Inc. (NYSE: LDOS) ("Leidos"), a FORTUNE® 500 science and technology leader, today announced that it has entered into a definitive agreement to acquire L3Harris Technologies' (NYSE: LHX) ("L3Harris") Security Detection and Automation businesses, for $1 billion in cash. By Ross Wilkers; May 13, 2020; Leidos announced in February -- … This transaction is projected to be immediately accretive to revenue growth, EBITDA margins, and non-GAAP EPS upon closing. A Leidos spokesperson said that the acquisition will produce about $500 million in revenue in 2020.“The addition of this technology to the Leidos portfolio will enhance the company’s offerings in a global security product market projected to grow in excess of the federal budget,” the Leidos news release said.“We also believe there are opportunities to grow the services portion of the acquired businesses by servicing more of the equipment ourselves, and improving service quality and efficiency for customers,” the spokesperson saidLeidos currently provides several aviation products including airport operations, planning and management systems, as well as inspection systems, which the L3Harris technology will complement. Analysts and institutional investors may participate by dialing +1 (877) 869-3847 (U.S. dial-in) or +1 (201) 689-8261 (international dial-in).The following errors must be corrected:Leidos retained Credit Suisse Securities (USA) LLC as financial advisor, and Fried, Frank, Harris, Shriver, & Jacobson LLP and DLA Piper as legal advisors in connection with the transaction. Presentation Abstracts ExGloH engages academic and pharmaceutical partners by presenting current data at the top conferences in immunotherapy and infectious diseases. "The businesses further our commitment to a diversified revenue stream, by expanding our customer penetration into 75 additional countries. I look forward to welcoming these L3Harris employees to Leidos and working together to continue our important work. Sign up to get the top federal headlines each morning.Leidos took a significant step toward expanding its global airport and critical infrastructure footprint with its entrance into a definitive agreement to acquire L3Harris’ airport business.Over 20,000 of L3Harris’ security checkpoint offerings, which include checkpoint scanners, automated tray return systems and explosives trace detectors, are deployed across 100 countries, according to a Feb. 4 news release. About Leidos Leidos is a … With headquarters in Tewksbury, Mass. After submitting your information, you will receive an email. Together, we will advance our strategy of helping secure some of the world's most critical infrastructure and the individuals who travel through it. You must click the link in the email to activate your subscription. Learn About Our Portfolio. Such statements are made in reliance on the safe harbor provisions of Section 27A of M&A. L3Harris CALENDAR YEAR 2019 FOURTH QUARTER EARNINGS PRESENTATION 3 Basis of Preparation As supplemental information to aid with year-over-year comparability following the L3Harris merger, this presentation includes combined financial results, with "combined" meaning, in the case of prior-year The deal, expected to close at the end of the second quarter of 2020, will expand Leidos’ work in 75 new countries, according to a statement from Leidos Chairman and CEO Roger Krone. Leidos is a global leader in the integration and application of information technology, engineering, and science to solve the customers' most demanding challenges. ""The acquisition of these businesses will help accelerate our growth and innovation and enable us to offer the market a comprehensive security platform," said Leidos Chairman and CEO Roger Krone. "The transaction is expected to close by the end of the second quarter of 2020, subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals.L3Harris' Security Detection and Automation businesses provide airport and critical infrastructure screening products, automated tray return systems and other industrial automation products. and Luton, England, the combined businesses have 1,200 employees and a global sales and services operations footprint with more than 20,000 systems deployed world-wide across more than 100 countries. L3Harris.com. The businesses serve customers in the aviation, transportation, government and critical infrastructure markets.
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