Science and technology company Leidos Holdings, Inc. has announced the completed acquisition of independent ship design firm Gibbs & Cox, Inc. for approximately $380 million in cash. The transaction was announced Feb. 23.
Gibbs & Cox focuses on naval architecture and marine engineering. It will operate as a wholly owned subsidiary and will be combined with Leidos’ maritime systems division.
Leidos is excited to welcome the Gibbs & Cox team to the Leidos family, said Chairman and CEO Roger Krone.
“Gibbs & Cox is widely regarded for developing the most talented and experienced naval designers in the world,” he added. “We look forward to this new era of innovation while combining the best of both companies.”
Gibbs & Cox President and Chief Executive Chris Deegan said 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 cyber security segments,” he added. “We look forward to mapping a new Gibbs & Cox with Leidos for the next 90 years.”