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Leidos acquires ship design firm Gibbs & Cox for $380m

Leidos acquires ship design firm Gibbs & Cox for $380m
10 May 2021 (Last Updated May 10th, 2021 12:57)
Leidos has closed the acquisition of Gibbs & Cox for a cash consideration of approximately $380m.
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The acquisition was originally announced in February.
Based in the US, Gibbs & Cox is an independent ship design firm engaged in naval architecture and marine engineering.
Gibbs & Cox will be merged with Leidos’ maritime systems division and function as its fully owned subsidiary.
The acquisition enables Leidos to provide a wide range of engineering solutions to the US Navy and to an expanding number of foreign navies.
Leidos chairman and CEO Roger Krone said: “We are delighted to welcome the Gibbs & Cox team to the Leidos family. ....

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Leidos completes acquisition of Gibbs & Cox

Press release content from PR Newswire. The AP news staff was not involved in its creation.
Leidos completes acquisition of Gibbs & Cox
May 7, 2021 GMT
RESTON, Va., May 7, 2021 /PRNewswire/ Leidos Holdings, Inc. (NYSE: LDOS) (“Leidos”), a FORTUNE® 500 science and technology leader, today announced the completed acquisition of Gibbs & Cox, Inc. (“Gibbs & Cox”) for approximately $380 million in cash. The transaction was previously announced on Feb. 23, 2021. Gibbs & Cox will operate as a wholly-owned subsidiary and will be combined with Leidos’ maritime systems division.
Headquartered in Arlington, Virginia, Gibbs & Cox is the largest independent ship design firm focused on naval architecture and marine engineering. The company’s world class naval architects, designers, engineers and program managers develop innovative vessel designs and naval capabilities. The acquisition positions Leidos to provide a broad set of engineering solutions to the US Navy ....

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