Leidos, a US defence, aviation, IT, and biomedical research company, has completed the acquisition of L3Harris Technologies’ Security Detection and Automation businesses, for approximately US$1bn (£804m).
The transaction, which was previously announced on 4 February 2020, was funded through a combination of excess cash on hand and a two-year term loan.
Roger Krone, chairman and CEO, Leidos, said: “In line with our mission of making the world safer, healthier and more efficient, this security detection and automation acquisition furthers our important work in the secure movement of people and commerce globally.”
With annual revenues of approximately US$500m (£402m), the acquired businesses provide airport and critical infrastructure screening products, automated tray return systems and other industrial automation products to customers in the aviation, transportation, government and critical infrastructure markets.
Headquartered in Tewksbury, Massachusetts, and Luton, England, both businesses, which have 1,200 employees, will operate within the Leidos Civil Group, led by Jim Moos, civil group president.
Combined with Leidos’ existing cargo and baggage screening product lines, the company now has a global security detection and automation footprint of more than 24,000 systems deployed in more than 120 countries.
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