19 mai 2021 | International, Aérospatial
Europe's sixth generation fighter jet takes major step forward
The French, German and Spanish governments have agreed the next phase of the jointly-developed Future Combat Air System.
6 mai 2020 | International, C4ISR
Leidos completes acquisition of L3Harris Technologies’ Security Detection and Automation Businesses creating a comprehensive, global security and detection portfolio
(Reston, Va.) May 4, 2020–Leidos (NYSE:LDOS), a FORTUNE® 500 science and technology leader, today announced that it has completed the acquisition of L3Harris Technologies' (“L3Harris”) Security Detection and Automation businesses, for approximately $1 billion in cash. The transaction was previously announced on Feb. 4, 2020.
The acquired businesses provide airport and critical infrastructure screening products, automated tray return systems and other industrial automation products. They will operate within the Leidos Civil Group, led by Jim Moos, Civil Group president. Combined with Leidos' existing cargo and baggage screening product lines, Leidos now goes to market with a global security detection and automation footprint of more than 24,000 systems deployed in more than 120 countries. Leidos will continue to serve global customers in the aviation, transportation, government and critical infrastructure markets.
“In line with our mission of making the world safer, healthier and more efficient, this security detection and automation acquisition furthers our important work in the secure movement of people and commerce globally,” said Leidos Chairman and CEO Roger Krone. “We are excited to support critical infrastructure wherever it is needed, and to help transform the global security marketplace.”
“This deal expands our scope and scale in securing ports and borders, enhancing passenger movement in airports of the future, and fortifying infrastructure for national security and public venues,” said Moos. “We are pleased to welcome more than 1,200 L3Harris employees around the world to the Leidos team, who share our deep commitment of providing our customers with a fully-integrated security technology ecosystem.”
Compelling Strategic and Operational Benefits
- Expands Product Portfolio in High-Growth, Global Security Market: The closing of this acquisition creates a comprehensive and cohesive security detection platform by adding technologies including checkpoint CT scanners, people scanners, explosives trace detectors, checked baggage screeners, and automated tray return systems (ATRS) to Leidos' security detection portfolio. The combined solutions enhance the company's offerings in an evolving global security product market, which allows diversification beyond the federal budget and positions the company for long-term growth.
- Increased International Presence Diversifies Revenue: This business expands customer penetration across aviation, ports, borders, and critical infrastructure internationally and increases Leidos' international security products revenue more than six-fold. The deal brings Leidos products into 75 additional countries.
- Growth and Innovation Accelerated by Scale: The integration of these new businesses into a comprehensive portfolio enables Leidos to leverage its core technical strengths, in-depth biometrics capabilities, and global sales channels to rapidly develop and deliver new solutions. Technology investments across the combined portfolio will help accelerate innovation to address emerging and evolving threats and improve service efficiency for customers.
Transaction Details
The transaction is expected to be immediately accretive to Leidos' revenue growth, EBITDA margins, and non-GAAP diluted earnings per share upon closing.
Cash consideration of approximately $1.0 billion plus related transaction costs was funded through a combination of excess cash on hand and a two-year term loan.
Advisors
Leidos retained Credit Suisse Securities (USA) LLC as financial advisor, and Fried, Frank, Harris, Shriver, & Jacobson LLP and DLA Piper as legal advisors in connection with the transaction.
About Leidos
Leidos is a Fortune 500® information technology, engineering, and science solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, homeland security, civil, and health markets. The company's 37,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Va., Leidos reported annual revenues of approximately $11.09 billion for the fiscal year ended January 3, 2020. For more information, visit leidos.com.
Cautionary Statement Regarding Forward-Looking Statements
The forward-looking statements contained in this release involve risks and uncertainties that may affect Leidos' operations, markets, products, services, prices and other factors as discussed in filings with the Securities and Exchange Commission (the “SEC”). Without limiting the foregoing, forward-looking statements often use words such as “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “seek,” “project,” “target,” “goal,” “may,” “will,” “would,” “could,” “should,” “can,” “continue” and other words of similar meaning in connection with a discussion of the transaction or future operating or financial performance or events. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental and technological factors. Accordingly, there is no assurance that the expectations of Leidos will be realized. This release also contains statements about the acquisition of the security detection and automation businesses of L3Harris that are based on assumptions currently believed to be valid but involve significant risks and uncertainties, many of which are beyond Leidos' control, which could cause Leidos' actual results to differ materially from these forward-looking statements with respect to the transaction, including, anticipated tax treatment, ability to retain key personnel, the dependency of the transaction on market conditions and the impact of a change in market conditions on the value to be received in the transaction, unforeseen liabilities, future capital expenditures, uncertainty as to the expected financial condition and economic performance of the company following the closing, including future revenues, expenses, earnings, indebtedness, losses, prospects, business strategies for the management, expansion and growth of the company following the closing, Leidos' ability to integrate the businesses successfully and to achieve anticipated synergies, the risk that disruptions from the transaction will harm Leidos' business and the impact of the COVID-19 outbreak. While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Leidos' consolidated financial condition, results of operations or liquidity. For a discussion identifying additional important factors that could cause actual results to vary materially from those anticipated in the forward-looking statements, see Leidos' filings with the SEC, including “Management's Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in Leidos' annual report on Form 10-K for the year ended January 3, 2020, and in its quarterly reports on Form 10-Q which are available at http://www.Leidos.com and at the SEC's web site at http://www.sec.gov. The forward-looking statements contained in this release are made only as of the date of this release and are based on the information available to Leidos as of the date of this release. Readers are cautioned not to put undue reliance on forward-looking statements. Leidos assumes no obligation to provide revisions or updates to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.
View source version on Leidos : https://www.leidos.com/insights/leidos-completes-acquisition-l3harris-technologies-security-detection-and-automation
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12 septembre 2018 | International, Aérospatial, Naval, Terrestre, C4ISR
French joint chief calls for coordinated European force
By: Pierre Tran SATORY ARMY BASE, France — Nations in Europe need to forge a more coordinated forceacross the continent, with each ready to step up to play a leadership role during conflict, said the French joint chief of staff. “The future of the defense of nations on the continent cannot be considered outside the European framework,” Army Gen. François Lecointre told the Summer Defense University, a two-day gathering of senior officers, parliamentarians and industry chiefs. “In the context of doubt over multilateralism, greater fragility of alliances and America's refocus of attention to the Indo-Pacific region, the European continent must confront — increasingly on its own — all kinds of threats: might, terrorism, hybrid, cyber and migration,” he said. That use of the term “might” referred to unspecified nations perceived to pose a threat to Western allies. That calls for a common vision in strategy and capability, with a country ready to take the role of a “leader nation,” he said. The aim is to build a “European strategic autonomy,” he added. The French armed forces minister, Florence Parly, came to the army base, just outside Versailles, west of the capital, and watched a dynamic display staged by the Army. The service fielded a Jaguar combat and reconnaissance vehicle, a VBCI infantry fighting vehicle carrying a squad of troops, a robotic vehicle carrying a wounded soldier, and a Leclerc main battle tank carried by a tank transport. France invites foreign officers and political leaders to the high-level annual gathering, organized by CEIS, a think tank and consultancy. https://www.defensenews.com/global/europe/2018/09/11/french-joint-chief-calls-for-coordinated-european-force
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28 mai 2020 | International, Aérospatial
How U.S. Open Skies Exit Could Undermine Arms Control
Tony Osborne Jen DiMascio May 28, 2020 The decision by the U.S. government to withdraw from the Open Skies Treaty signed two decades ago is creating ripples of discontent within the U.S. and in Europe. Washington announced on May 22 that it would end its obligations to the arms control treaty in six months, saying that it was “no longer in the United States' best interest to remain a party to this Treaty when Russia does not uphold its commitments,” in a statement put out by the Defense Department. The Open Skies Treaty permits its 34 signatories to conduct observation flights over each other's territory. Aircraft with four types of sensors—-optical panoramic and framing cameras, real-time video cameras, infrared line-scanners and sideways-looking synthetic aperture radar—may make observations anywhere over a country's national territory. Treaty rules say that the flight may only be restricted for reasons of flight safety, not for reasons of national security. NATO and European nations may share U.S. concerns about inconsistent flight restrictions imposed by Moscow but see a U.S. departure from the agreement, in place since 1992, as regrettable. According to the U.S. and NATO, Russia has imposed restrictions on the treaty, in particular those flying near Kaliningrad, Russia's enclave on the Baltic Sea, and near the country's border with Georgia. The Pentagon also says Moscow blocked the overflight of a major military exercise in September 2019, “preventing the exact transparency the treaty is meant to provide.” In an op-ed in The New York Times, Tim Morrison, a senior fellow at the Hudson Institute and a former member of this administration's National Security Council, added that Russia has been using its overflights to collect “military relevant intelligence on the other parties, like the means to target critical infrastructure.” NATO Secretary General Jens Stoltenberg, during the May 22 meeting of alliance members, called on the Russian government to return to compliance as soon as possible, noting that the U.S. could reconsider its position if Russia complied. European Open Skies Treaty member states—including Belgium, the Czech Republic, Finland, France, Germany, Italy, Luxembourg, Netherlands, Spain and Sweden—said they would continue to implement the treaty, saying it has a “clear added value” for conventional arms control architecture and cooperative security. Russia rejects the claims of flight restrictions and contends that the U.S. had limited Russia's own Open Skies flights over Hawaii and the Aleutian Islands. Senior Russian officials, including Dmitry Medvedev, deputy chairman of the Russian Security Council, denounced Washington's decision. Medvedev said the U.S. had taken another step down the “path of dismantling the international security architecture that took decades to lay down.” Moscow believes Washington's decision could also affect other arms control treaties, with negotiations on the next New Strategic Arms Reduction Treaty potentially at risk. In Washington, the leaders of the House Armed Services and Foreign Affairs committees (both Democrats) have written a letter to Defense Secretary Mark Esper and Secretary of State Mike Pompeo contending that withdrawal from the treaty is illegal. They say it violates the fiscal 2020 National Defense Authorization Act, which requires Esper and Pompeo to notify Congress 120 days before the intent to withdrawal is presented. “This notification must be based on your joint conclusion that withdrawal is in the best interests of the United States and that other states parties to the treaty have been consulted. To date, this requirement has not been fulfilled,” wrote Reps. Adam Smith (Wash.), the Armed Services chairman, and Eliot Engel (N.Y.), the Foreign Affairs chairman. President Donald Trump and his administration have support from Repub-licans who lead the Senate for their decision to exit the treaty. Sen. James Inhofe (R-Okla.), who chairs the Senate Armed Services Committee, asserts that the U.S. should withdraw if Russia is not complying with the agreement. “It will be critical for the Trump administration to continue working with our allies and partners, especially those in Eastern Europe, to ensure they have access to the intelligence they need to protect their security. That includes facilitating access to high-quality imagery.” The U.S. had planned to upgrade the two Boeing OC-135 aircraft delivered to the Air Force in 1996. Late last year, the U.S. issued a request for information saying it was considering awarding two contracts—one for the purchase of two commercial aircraft and another to modify the airframe and provide logistics support. But the Pentagon did not include funding for OC-135 upgrades in its fiscal 2020 budget request. And in March, Esper told Congress he was not prepared to authorize funding for those upgrades until a path forward is clear. Several signatories to the treaty have dedicated aircraft for the mission; others share or lease platforms from other nations for the task. Germany is the latest country to dedicate an aircraft for the mission, using an Airbus A319 converted by Lufthansa Technik. https://aviationweek.com/defense-space/budget-policy-operations/how-us-open-skies-exit-could-undermine-arms-control