Leidos to acquire 1901 Group for $215M
Transaction expected to close first quarter 2021
Reston-based Fortune 500 government contractor Leidos Holdings Inc. announced Thursday it will acquire Reston-based information technology services company 1901 Group for $215 million.
“We are pleased to welcome 1901 Group’s team of digital transformation experts who share Leidos’ commitment to making the world safer, healthier and more efficient through IT,” Leidos Chairman and CEO Roger Krone said in a statement. “Leidos and 1901 Group both strive to provide customers with progressive, agile and secure solutions. Together, we will be better positioned to continue successfully providing these critical solutions while navigating growing trends in the IT marketplace.”
1901 Group was founded in 2009 and offers cloud, cybersecurity and enterprise scale-managed services. It has clients in the federal, state and local governments, as well as law enforcement and criminal justice agencies. With annual revenues of $11.09 billion last year and 37,000 employees, Leidos specializes in technology and engineering services for defense agencies.
Leidos’ acquisition of 1901 Group will advance its digital modernization capabilities, and 1901 brings cloud factories and fully-integrated service delivery platforms to Leidos.
“1901 Group is very excited about our future with Leidos,” 1901 Group founder and CEO Sonu Singh said in a statement. “We have closely shared values based upon a commitment to our customers, our employees, and our mission of utilizing untapped IT talent across all geographies. … We look forward to closing this deal and officially becoming a part of Leidos.”
The deal is expected to close during the first quarter of 2021, according to a company statement.
Holland & Knight LLP is serving as legal adviser to Leidos, while Pillsbury Winthrop Shaw Pittman LLP is serving 1901 Group. Baird served as exclusive adviser to 1901 Group during the transaction.