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Business/Financial

Leidos $1 Billion Deal For L3Harris Detection Business Will Create Comprehensive Security Portfolio

By Cal Biesecker

Tuesday, February 4th, 2020

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Leidos $1 Billion Deal For L3Harris Detection Business Will Create Comprehensive Security Portfolio

Leidos Advanced Imaging Technology scanner. Photo: Leidos

Leidos [LDOS] on Tuesday morning said it has agreed to acquire the Security & Detection and automation business units of L3Harris Technologies [LHX] for $1 billion in cash, adding a host of products and capabilities used mainly in aviation security worldwide to complement its legacy suite of solutions for securing ports and borders. Leidos also said the pending acquisition, which is expected to close before July, will help boost its international business, adding customers in 75 additional countries and increasing…

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