The transaction will bring aerial surveillance and search and rescue missions to Leidos Australia’s portfolio
MELBOURNE, AustraliaAND RESTON, Va., 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 Mission business of Cobham Aviation Services Australia. The Special Mission business provides aerial border surveillance and search and rescue services to the Australian Federal Government. The acquisition is subject to customary closing conditions, including regulatory approvals.
“of Cobham The Special Mission Team conducts essential operations that protect of Australia borders, support law enforcement and environmental protection, and save lives,” said Leidos Chairman and CEO Roger Krone. “Integrating Special Mission into Leidos Australia will expand the reach of our global airborne ISR capabilities, diversify revenues and open new avenues of growth.”
“I have the greatest respect and admiration for of Cobham The Special Mission Team and their performance in government service,” said the chief executive of Leidos Australia Paul Chase. “The addition of the Special Mission business will bring new, expanded services to our worldwide offerings Australia. I look forward to working with this incredible team.”
“This is a perfect match,” said the Chairman of Cobham Aviation Services Kim Gillis. “Leidos has outstanding complementary operations with Cobham’s Special Mission in airborne ISR, as well as deep platform integration expertise, and both organizations maintain outstanding track records of delivering mission-critical services to government and defense customers.”
“I would like to recognize and thank the entire Special Mission team for their continued dedication and commitment to deliver operational results for our clients,” Special Mission Managing Director James Woodhams said. “I am very excited about what the future holds for the team as part of Leidos.”
Cobham Special Mission owns and operates 14 modified aircraft to provide critical services Australiaincluding:
- Conducting one of the world’s largest civilian maritime surveillance operations under contract to the Australian Border Force, patrolling of Australia Exclusive Economic Zone 8.2 million square kilometers;
- Providing land and sea fixed wing search and rescue response capability on behalf of the Australian Maritime Safety Authority (AMSA); AND
- Operating a highly specialized aircrew training system for more than 30 mission crews per year.
Leidos is a Fortune 500® technology, engineering and science solutions and services leader, working to solve the world’s toughest challenges in the defense, intelligence, civil and healthcare markets. The company’s 43,000 employees support vital missions for government and commercial customers. Headquartered in Reston, VirginiaLeidos reported annual revenue of approx 13.7 billion dollars for the closed fiscal year December 31, 2021. For more information, visit www.Leidos.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the US Securities and Exchange Reform Act of 1995 regarding Leidos’ proposed acquisition of Cobham Aviation Services Australia, including statements about the benefits of the transaction. , the estimated time of the transaction and the products and markets of each company. These forward-looking statements are generally identified by the words “believe,” “project,” “anticipate,” “budget,” “anticipate,” “continue,” “expect,” “anticipate,” “estimate,” “aim,” “strategy “, “future”, “opportunity”, “plan”, “can”, “could”, “should”, “will”, “will”, “will be”, “will continue”, “has to likely result”, and similar expressions (or negative versions of such words or expressions).
Forward-looking statements are forecasts, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including but not limited to: (i) the risk that the transaction may not be completed on a timely basis or at all, (ii) the failure to satisfy the conditions to the completion of the transaction, including the receipt of certain governmental and regulatory approvals, (iii) the occurrence of any event, change or other circumstance that may cause the merger agreement to be terminated, (iv) the effect of the notice or suspension of of the transaction on Cobham Aviation Services Australia’s business relationships, operating results and business generally, (v) the risk that the proposed transaction will disrupt the current plans and operations of Leidos or Cobham Aviation Services Australia and potential difficulties in Cobham Aviation’s employee retention Services Australia as a result of the transaction, (vi) risks associated with the departure of management attention from Cobham Aviation Services Australia’s continuing business operations, (vii) the outcome of any legal proceedings that may be commenced against Leidos or against Cobham Aviation Services Australia in connection with the merger agreement or transaction, (viii) Leidos’ ability to integrate successfully Cobham Aviation Services Australia’s operations, product lines and technology, and (ix) Leidos’ ability to implement its plans, forecasts and other expectations relating to the business of Cobham Aviation Services Australia following completion of the proposed acquisition and realize additional opportunities for growth and innovation.
In addition, please refer to the documents that Leidos files with the SEC on Forms 10-K, 10-Q and 8-K. These filings identify and address other significant 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 reliance on forward-looking statements, and Leidos undertakes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.