The science and technology specialist, Leidos, has completed the acquisition of L3Harris Technologies’ (L3Harris) Security Detection and Automation businesses, for approximately US$1bn. The intent to purchase was announced on February 4, 2020.
The acquired companies provide critical infrastructure screening products and automated tray return systems that are in widespread use at airports.
A company statement said the L3Harris businesses will operate within the Leidos Civil Group, led by Jim Moos, civil group president. Combined with Leidos’ existing cargo and baggage screening product lines, Leidos said it now has a global security detection and automation footprint of more than 24,000 systems deployed in more than 120 countries. The company added that it will “continue to serve global customers in the aviation, transportation, government and critical infrastructure markets”.
Leidos chairman and CEO, Roger Krone, 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.
“We are excited to support critical infrastructure wherever it is needed and to help transform the global security marketplace.”
Jim Moos added: “This deal expands our scope and scale in securing ports and borders, enhancing passenger movement in airports of the future and fortifying infrastructure for national security and public venues.
“We are pleased to welcome more than 1,200 L3Harris employees around the world to the Leidos team, who share our deep commitment of providing our customers with a fully-integrated security technology ecosystem.”
Leidos hired Credit Suisse Securities (USA) as its financial advisor for the deal while Fried, Frank, Harris, Shriver, & Jacobson, and DLA Piper acted as legal guides in connection with the transaction.
