Leidos to acquire the special missions business of Cobham Aviation Services Australia
Transaction will bring aerial surveillance and search and rescue missions to Leidos Australia’s portfolio
Melbourne, Australiaand RESTON, Go., August 2, 2022 /PRNewswire/ — Leidos (NYSE: LDOS), a FORTUNE® 500 science and technology leader, announced that it has entered into a definitive agreement with Cobham Limited to acquire the special missions business of Cobham Aviation Services Australia. The Special Mission activity 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 The Special Mission team conducts critical operations that protect australia 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 reach of our global airborne ISR capabilities, diversify revenue and open up new avenues for growth.”
“I have the greatest respect and admiration for Cobham’s the special mission team and their performance in government service,” said the chief executive of Leidos Australia Paul Chase. “Adding the Special Mission business will bring new and expanded services to our offerings across Australia. I look forward to working with this outstanding team.”
“It’s a perfect match,” said the president of Cobham Aviation Services Kim Gillis. “Leidos has remarkably complementary operations to the Cobham Special Mission in Airborne ISR, as well as deep expertise in platform integration, and both organizations maintain exceptional track records in delivering critical services to the mission to government and defense customers.”
“I want to acknowledge and thank the entire Special Mission team for their continued dedication and commitment to delivering operational results for our customers,” said Special Mission’s General Manager. James Woodham said. “I’m really excited about what the future holds for the team at Leidos.”
Cobham Special Mission owns and operates 14 aircraft modified to provide essential services across Australiaincluding:
- Conduct one of the largest outsourced civilian maritime surveillance operations in the world under contract to the Australian Border Force, patrolling australia 8.2 million square kilometers of exclusive economic zone;
- Provide fixed-wing search and rescue response capability on land and sea on behalf of the Australian Maritime Safety Authority (AMSA); and
- Operation of a highly specialized mission crew training system for over 30 mission crews per year.
Leidos is a Fortune 500® technology, engineering, and scientific solutions and services leader working to solve the world’s toughest challenges in the defense, intelligence, civilian, and healthcare markets. The company’s 43,000 employees support vital missions for government and commercial customers. Based at Reston, VirginiaLeidos recorded annual revenues of approximately $13.7 billion for the year ended December 31, 2021. For more information, visit www.Leidos.com.
Cautions Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 relating to Leidos’ proposed acquisition of Cobham Aviation Services Australia, including statements regarding the benefits of the transaction. , the expected timing of the transaction and each company’s products and markets. These forward-looking statements are generally identified by the words “believe”, “project”, “predict”, “budget”, “expect”, “continue”, “expect”, “anticipate”, “estimate”, “have intention, “strategy”, “future”, “opportunity”, “plan”, “may”, “could”, “should”, “will”, “would”, “will”, “will continue”, “will probably result” and similar phrases (or negative versions of such words or phrases).
Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, therefore, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements contained in this release, including, but not limited to: (i) the risk that the transaction will not close in a timely manner or not any, (ii) the failure to satisfy the conditions to complete the transaction, including obtaining certain governmental and regulatory approvals, (iii) the occurrence of any event, change or other circumstance that could lead to the termination of the Merger Agreement, (iv) the effect of the announcement or expectation of the transaction on the business relationships, results of operations and business of Cobham Aviation Services Australia generally, (v) the risks that the proposed transaction disrupts the current plans and operations of Leidos or Cobham Aviation Services Australia and potential difficulties for Cobham to retain Aviation Services Australia employees at the following the transaction, (vi) the risks of diverting the attention of Cob’s management from Ham Aviation Services Australia’s ongoing business activities, (vii) the outcome of any legal proceedings that may be brought against Leidos or against Cobham Aviation Services Australia with respect to the merger agreement or transaction, (viii) Leidos’ ability to successfully integrate Cobham Aviation Services Australia, product lines and technology, and (ix) Leidos’ ability to implement implement its plans, forecasts and other expectations for the business of Cobham Aviation Services Australia following completion of the proposed acquisition and to realize additional opportunities for growth and innovation.
Additionally, please refer to the documents 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 place undue reliance on any forward-looking statements, and Leidos undertakes no obligation and does not intend to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.