Vectrus will be the name of Exelis spinoff
- April 1, 2014
The missions systems division being spun off by McLean-based Exelis Inc. will be named Vectrus.
Exelis announced in December that the division, currently part of the company’s information and technical services segment, will become a new, publicly traded company.
The spinoff is scheduled for completion this summer.
Exelis is a diversified aerospace, defense, information and services company with about 17,000 employees. It had 2013 sales of $4.8 billion.
Exelis itself was created in 2011 in a spinoff from ITT Corp.
Company officials describe Vectrus is a blended name derived from the words “vector” and “trust.”
The new company will have nearly 7,000 employees operating in more than 100 locations in 18 countries.
Vectrus is well-positioned to continue to deliver its broad range of capabilities as an independent entity.
After the spinoff, Exelis will focus on four strategic growth platforms: critical networks, ISR (intelligence, surveillance and reconnaissance) and analytics, electronic warfare and aerostructures.
It also will continue its mature business areas of networked communications and night vision.