Engineering, IT and defense conglomerate Leidos has reached an agreement to buy the storied naval architecture firm Gibbs & Cox, boosting its capabilities as it competes for U.S. Navy unmanned systems contracts. In an earnings call Tuesday, Leidos CEO Roger Krone confirmed that his company plans to pay $380 million for Gibbs & Cox, with the transaction expected to close in the first quarter.
"The acquisition of Gibbs & Cox will extend our existing maritime business and add specific capabilities and services, such as naval architecture and marine engineering, 3D modeling and design, and specialty engineering to the solution set that we offer to our customers,” Krone said.
Gibbs & Cox is famous for its military designs, including the mass-produced Liberty Ships that carried U.S. military aid in WWII and many of the landing craft that ferried troops to Normandy on D-Day....MORE
