Leidos acquires US security solutions company Dynetics for $1.65bn

Leidos has completed its previously announced acquisition of US-based applied research and national security solutions company Dynetics in a deal valued at approximately $1.65bn in cash. Initially announced in December last year, the acquisition was funded by Leidos using excess cash on hand and $1.25bn of short-term borrowing capacity. Dynetics has now become a wholly owned subsidiary of Leidos, and its CEO David King will continue to lead the business, reporting directly to Leidos chairman and CEO Roger Krone. Krone said: “This combination adds innovative capabilities in our targeted growth areas while expanding our secure agile production capabilities, secure agile manufacturing, and increasing our penetration with key customers. “We are pleased to welcome an outstanding team of 2,300 employees with a shared culture of innovation and technical expertise that will benefit our collective customers and drive our continued success.”