Leidos completes $380M Gibbs & Cox acquisition
Gibbs & Cox's specialties include naval architecture, marine engineering
Reston-based Fortune 500 government contractor Leidos has completed its $380 million, all-cash acquisition of Arlington-based engineering and design firm Gibbs & Cox, Leidos announced Friday.
Gibbs & Cox, which specializes in naval architecture, marine engineering, management support and engineering consulting, has offices throughout the United States and Australia. It will operate as a wholly-owned Leidos subsidiary and will combine with Leidos’ maritime systems division.
First announced in February, the acquisition allows Leidos, which specializes in technology and engineering services for defense agencies, to provide engineering solutions to the U.S. Navy and foreign navies.
“We are delighted to welcome the Gibbs & Cox team to the Leidos family,” Leidos Chairman and CEO Roger Krone said in a statement. “Gibbs & Cox is widely regarded for developing the most talented and experienced naval designers in the world. We look forward to this new era of innovation while combining the best of both companies.”
“We are excited to join Leidos, whose employee culture and history of innovation strongly mirror our own legendary 91-year history,” Gibbs & Cox President and Chief Executive Chris Deegan said in a statement. “Gibbs & Cox will remain the nation’s largest independent provider of maritime services. The combination of our world-class naval architecture, design and engineering services with Leidos’ speed, security and scale will significantly enhance our combined offerings in the fast-growing maritime undersea, autonomous and cybersecurity segments. We look forward to mapping a new Gibbs & Cox with Leidos for the next 90 years.”
Leidos, which employs more than 37,000 employees, posted $12.3 billion in fiscal 2020 revenue.