Hypersonics a strategic benefit of Leidos' Dynetics acquisition
NewsDecember 19, 2019
RESTON, Va. Leidos Holdings, Inc. announced that it has entered into a definitive agreement to acquire privately-owned Dynetics, Inc., applied research and national security solutions company, for $1.65 billion in cash. According to Leidos, the Board of Directors of both companies unanimously approved the transaction.
Once the transaction is completed in the first quarter of 2020, Dynetics will operate as a wholly-owned subsidiary of Leidos. Dynetics’ Chief Executive Officer will lead the subsidiary and report directly to Leidos’ Chief Executive Officer.
Leidos Chairman and CEO Roger Krone says, "Through the LInC, Leidos develops groundbreaking solutions leveraging a wide range of technologies. Dynetics will further accelerate those efforts, including in hypersonics, space solutions, autonomy and advanced sensors."
Company officials also claim that the strategic benefits of the acquisition include opportunities to grow in the hypersonic, glide munition, and directed energy space, expand rapid prototyping, enhance local footprint, and build on existing customer relationships.
