Leidos Holdings, Inc. (NYSE: LDOS) (“Leidos”), a FORTUNE® 500 science and technology leader, today announced the completed acquisition of 1901 Group for approximately $215 million in cash. The transaction was previously announced on Dec. 10, 2020.
1901 Group is a leading provider for managed IT services and cloud solutions in the private and public market. It will operate as a wholly-owned subsidiary of Leidos. The acquisition adds nearly 400 IT, cloud and cyber specialists to the Leidos team. This will grow the company’s deep bench of certified technical talent to support customers with their mission-critical needs.
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Headquartered in Reston, Virginia, 1901 Group delivers leading cloud, cybersecurity and enterprise-scale digital modernization services. These and other capabilities improve performance and reduce costs. Founded in 2009, the company’s spirit and name was inspired by the year 1901, when automation of the assembly line was invented. These factory floor principles serve as the foundation for the company’s drive to modernize enterprise IT services.
“The addition of 1901 Group allows us to work together and leverage their impressive capabilities across the enterprise,” said Leidos Chairman and CEO Roger Krone. “We are thrilled to incorporate their managed services and cloud computing techniques to provide our customers with the tools they need for digital modernization.”
“This acquisition will further enable Leidos to achieve a differentiated and scaled defense business,” said Leidos Defense Group President Gerry Fasano. “1901 Group will become a key corporate asset that we expect to generate future growth and accelerate innovative solutions for our customers.”
“This is an exciting day for 1901 Group, as we officially become a part of the Leidos family,” said 1901 Group Founder and CEO Sonu Singh. “We are confident this acquisition will provide new opportunities for our team. Combining our Enterprise IT Operations Centers and secure FedRAMP platform with the depth and scale of Leidos will allow us to provide customers with highly sought-after capabilities. We look forward to working together to transform IT service delivery.”