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Defense contractor Leidos (NYSE: LDOS) has announced a definitive agreement to acquire U.S.-based naval architecture firm Gibbs & Cox for $380 million in cash.
The acquisition was revealed this week in Leidos Holdings’ fourth quarter and full-year earnings release. The Reston Virginia-based company employees 38,000 people and specializes in information technology, engineering, and science solutions and services for the defense, intelligence, homeland security, civil, and health markets. It reported revenues $12.3 billion in 2020.
With 525 employees and a history dating back 90 years, Arlington, Virginia-based Gibbs & Cox is a leading full-service independent engineering and design firm specializing in naval architecture and marine engineering. The company is privately owned, led by Chris Deegan as President and Chief Executive. During WWII, over 5,400 ships were built using Gibbs & Cox designs, including the famous cargo-carrying Liberty ships. Lat ....

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