Transaction will bring airborne surveillance and search and
rescue missions to Leidos Australia's portfolio
MELBOURNE, Australia, and RESTON, Va., August 2,
2022 /PRNewswire/ -- Leidos (NYSE: LDOS), a FORTUNE®
500 science and technology leader, announced it has entered into a
definitive agreement with Cobham Limited to acquire Cobham Aviation
Services Australia's Special Mission business. The Special Mission
business provides airborne border surveillance and search and
rescue services to the Australian Federal Government. The
acquisition is subject to customary closing conditions, including
regulatory approvals.
"Cobham's Special Mission team
conducts essential operations that protect Australia's borders, support law enforcement
and environmental protection and save lives," said Leidos Chairman
and CEO Roger Krone. "The
integration of Special Mission into Leidos Australia will expand
the scope of our global airborne ISR capabilities, diversify
revenues, and open up new growth avenues."
"I have the greatest respect and admiration for Cobham's Special Mission team and their
performance in service to the Government," said Leidos Australia
Chief Executive Paul Chase. "The
addition of the Special Mission business will bring new, expansive
services to our offerings across Australia. I look forward to working with this
exceptional team."
"This is a perfect match," said Cobham Aviation Services
Chairman Kim Gillis. "Leidos has
remarkably complementary operations to Cobham Special Mission in
airborne ISR, as well as deep platform integration expertise, and
both organisations uphold exceptional track records of delivering
mission critical services to government and defence customers."
"I'd like to recognise and thank all of the Special Mission team
for their continued dedication and commitment to delivering
operational outcomes for our customers," Managing Director of
Special Mission James Woodhams said.
"I'm really excited about what the future holds for the team as
part of Leidos."
Cobham Special Mission owns and operates 14 modified aircraft to
deliver critical services across Australia, including:
- Conducting one of the world's largest outsourced civil maritime
surveillance operations under contract with the Australian Border
Force, patrolling Australia's 8.2
million square kilometre Exclusive Economic Zone;
- Providing fixed wing search-and-rescue response capability over
land and sea on behalf of the Australian Maritime Safety Authority
(AMSA); and
- Operating a highly specialised mission aircrew training system
for more than 30 mission aircrew per year.
About Leidos
Leidos is a Fortune 500® technology, engineering, and
science solutions and services leader working to solve the world's
toughest challenges in the defense, intelligence, civil, and health
markets. The company's 43,000 employees support vital missions for
government and commercial customers. Headquartered in Reston, Virginia, Leidos reported annual
revenues of approximately $13.7
billion for the fiscal year ended December 31, 2021. For more information, visit
www.Leidos.com.
Cautionary Statements Regarding
Forward-Looking Statements
This press release contains certain forward-looking
statements within the meaning of the "safe harbor" provisions of
the U.S. Private Securities Litigation Reform Act of 1995 with
respect to Leidos' proposed acquisition of Cobham Aviation Services
Australia, including statements regarding the benefits of the
transaction, the anticipated timing of the transaction and the
products and markets of each company. These forward-looking
statements generally are identified by the words "believe,"
"project," "predicts," "budget," "forecast," "continue," "expect,"
"anticipate," "estimate," "intend," "strategy," "future,"
"opportunity," "plan," "may," "could," "should," "will," "would,"
"will be," "will continue," "will likely result," and similar
expressions (or the negative versions of such words or
expressions).
Forward-looking statements are predictions, projections and
other statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this
release, including but not limited to: (i) the risk that the
transaction may not be completed in a timely manner or at all, (ii)
the failure to satisfy the conditions to the consummation of the
transaction, including the receipt of certain governmental and
regulatory approvals, (iii) the occurrence of any event, change or
other circumstance that could give rise to the termination of the
merger agreement, (iv) the effect of the announcement or pendency
of the transaction on Cobham Aviation Services Australia's business
relationships, operating results, and business generally, (v) risks
that the proposed transaction disrupts current plans and operations
of Leidos or Cobham Aviation Services Australia and potential
difficulties in Cobham Aviation Services Australia's employee
retention as a result of the transaction, (vi) risks related to
diverting management's attention from Cobham Aviation Services
Australia ongoing business operations, (vii) the outcome of any
legal proceedings that may be instituted against Leidos or against
Cobham Aviation Services Australia related to the merger agreement
or the transaction, (viii) the ability of Leidos to successfully
integrate Cobham Aviation Services Australia's operations, product
lines, and technology, and (ix) the ability of Leidos to implement
its plans, forecasts, and other expectations with respect to Cobham
Aviation Services Australia's business after the completion of the
proposed acquisition and realize additional opportunities for
growth and innovation.
In addition, please refer to the documents that Leidos files
with the SEC on Forms 10-K, 10-Q and 8-K. These filings identify
and address other important risks and uncertainties that could
cause events and results to differ materially from those contained
in the forward-looking statements set forth in this press release.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Leidos assumes no obligation and does not intend to
update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise.
Contact:
Melissa Dueñas
(571) 526-6850
Melissa.L.Duenas@leidos.com
Thomas Doheny
(571) 474-4735
Dohenyt@leidos.com
Brandon VerVelde
(571) 526-6257
Brandon.p.vervelde@leidos.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/leidos-to-acquire-cobham-aviation-services-australias-special-mission-business-301597781.html
SOURCE Leidos