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Leidos To Acquire Naval Architects Gibbs & Cox; Posts Higher Income, Sales In Fourth Quarter

Cal Biesecker By
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Leidos To Acquire Naval Architects Gibbs & Cox; Posts Higher Income, Sales In Fourth Quarter
Gibbs & Cox' capabilities include autonomous technologies. Image: Gibbs & Cox

Leidos [LDOS] on Tuesday said it has agreed to acquire the naval architecture and marine engineering firm Gibbs & Cox for $380 million in cash, a deal that will strengthen its capabilities in ship design and enhance its work on unmanned maritime systems. The deal appears to be borne out, at least in part, of the company’s loss last summer to L3Harris Technologies [LHX] to design and build a prototype Medium Unmanned Surface Vehicle (MUSV) for the Navy, part of…

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