MELBOURNE, Australia and RESTON, Va., Oct. 31, 2022 /PRNewswire/ -- Leidos LDOS, a FORTUNE® 500 science and technology leader, today announced the completed acquisition of Cobham Aviation Services Australia's Special Mission business. The transaction was previously announced on August 2, 2022. The business will be integrated into and operate as part of Leidos Australia.
The acquisition of Cobham Special Mission represents Leidos' entry into the Australian aviation market, utilising state of the art command and control systems and sensors on board aircraft to deliver mission critical outcomes for the Australian Government.
"We are excited and eager to formally welcome Cobham's Special Mission team to the Leidos family," said Leidos Chairman and CEO Roger Krone. "Bringing in the Special Mission business will build on our global airborne ISR capabilities while providing new opportunities for growth. Together with Leidos Australia leadership, I look forward to working with this talented team."
"On behalf of Leidos, I want to express a warm welcome to the Cobham Special Mission team," said Leidos Australia Chief Executive Paul Chase. "This team brings a tremendous reputation from across industry and Government. We look forward to continuing to provide exceptional service to our customers."
"It's a milestone day for all of us at Cobham Special Mission and the beginning of a new and exciting chapter as we become Leidos," said Leidos Australia Vice President of Airborne Solutions James Woodhams (formerly Cobham Special Mission Managing Director). "Leidos is a recognised employer of choice and I'm really excited about what being part of Leidos means for our people."
The Special Mission business provides airborne border surveillance as well as search and rescue services to the Australian Federal Government. The business owns and operates 14 modified aircraft to deliver critical services across Australia, including:
- Conducting one of the world's largest managed service civil maritime surveillance operations under contract with the Australian Border Force while patrolling Australia's 8.2 million square kilometre Exclusive Economic Zone;
- Providing fixed wing search-and-rescue response capability over land and sea on behalf of the Australian Maritime Safety Authority (AMSA); and
- Operating a highly-specialised mission training system for more than 30 mission aircrew per year.
Leidos Australia is a trusted partner to the Australian Government, providing services across information technology projects and services, intelligence (C4ISR) and Defence Missions Systems. Leidos Australia has 2,000 employees and is headquartered in Melbourne.
Leidos is a Fortune 500® technology, engineering, and science solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, civil, and health markets. The company's 44,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $13.7 billion for the fiscal year ended December 31, 2021. For more information, visit www.Leidos.com.
Cautionary Statements Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 with respect to Leidos' acquisition of Cobham Aviation Services Australia, including statements regarding the benefits of the transaction and the products and markets of each company. These forward-looking statements generally are identified by the words "believe," "project," "predicts," "budget," "forecast," "continue," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "could," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions (or the negative versions of such words or expressions).
Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including but not limited to: (i) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, (ii) the effect of the announcement of the transaction on Cobham Aviation Services Australia's business relationships, operating results, and business generally, (iii) risks that the transaction disrupts current plans and operations of Leidos or Cobham Aviation Services Australia and potential difficulties in Cobham Aviation Services Australia's employee retention as a result of the transaction, (iv) risks related to diverting management's attention from Cobham Aviation Services Australia ongoing business operations, (v) the outcome of any legal proceedings that may be instituted against Leidos or against Cobham Aviation Services Australia related to the merger agreement or the transaction, (vi) the ability of Leidos to successfully integrate Cobham Aviation Services Australia's operations, product lines, and technology, and (vii) the ability of Leidos to implement its plans, forecasts, and other expectations with respect to Cobham Aviation Services Australia's business after the completion of the proposed acquisition and realize additional opportunities for growth and innovation.
In addition, please refer to the documents that Leidos files with the SEC on Forms 10-K, 10-Q and 8-K. These filings identify and address other important risks and uncertainties that could cause events and results to differ materially from those contained in the forward-looking statements set forth in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Leidos assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
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