Reston, Va.-based Leidos said it has entered into a definitive agreement to acquire esteemed naval architecture and marine engineering firm Gibbs & Cox for $380 million in cash, as the defense, engineering and IT conglomerate looks to bolster its expertise as it competes for U.S. Navy unmanned systems contracts. The deal is expected to close in the second quarter of 2021, subject to closing conditions.
Founded in 1922 in New York City, Gibbs & Cox has designed some of the world's most well-known vessels, including the WWII Liberty Ships and the stories ocean liner SS United States. Now headquartered in Arlington, Va., Gibbs & Cox is the largest, full-service independent engineering and design firm specializing in naval architecture and marine engineering, best known for its warship designs, including the Oliver Hazard Perry class frigates, Arleigh Burke class destroyers and Freedom class littoral combat ships....MORE
