Military

Lockheed Martin Combines IS&GS with Leidos

By Juliet Van Wagenen | January 26, 2016

[Avionics Today 01-26-2016] Lockheed Martin combined its realigned Information Systems & Global Solutions (IS&GS) business segment with Leidos Holdings in order to focus more heavily on aerospace and defense, according to Lockheed Martin Chairman, President and CEO Marillyn Hewson.

Subject to regulatory approvals, the $5 billion transaction includes a $1.8 billion one-time payment to Lockheed Martin, which the corporation intends to use to repay debt, pay dividends, and repurchase its stock. The company expects the transaction to close in the third or fourth quarter of 2016.

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