Leidos Holdings, Inc. (NYSE: LDOS), a science and technology company, has announced that it has entered into a definitive agreement to acquire the security detection and automation businesses of L3Harris Technologies´ (NYSE: LHX) for USD 1 billion in cash, the company said.
L3Harris´ security detection and automation businesses provide airport and critical infrastructure screening products, automated tray return systems and other industrial automation products.
The acquisition of these businesses will help accelerate growth and innovation and enable the company to offer the market with a comprehensive security platform.
Leidos retained Credit Suisse Securities (USA) LLC as financial advisor, and Fried, Frank, Harris, Shriver, & Jacobson LLP and DLA Piper as legal advisors in connection with the transaction. Leidos also retained PwC as operations and accounting advisor.
Leidos is an information technology, engineering and science solutions and services serving the defense, intelligence, homeland security, civil and health markets.