Lockheed Martin divests Information Systems & Global Solutions business, merges it into Leidos
- Seller
- Lockheed Martin
- Buyer
- Leidos
Scope: Information Systems & Global Solutions (IS&GS) business (government IT and technical services)
Transferred via intermediate entity Abacus Innovations Corporation, a Lockheed Martin subsidiary created solely to facilitate the Reverse Morris Trust exchange offer/merger.
Event context
Lockheed Martin separated its Information Systems & Global Solutions (IS&GS) business and combined it with Leidos Holdings in a Reverse Morris Trust transaction valued at approximately $4.6 billion aggregate. Structured via an intermediate spin-off entity (Abacus Innovations Corporation) whose stock was exchanged by Lockheed Martin stockholders and then merged into Leidos. Closed August 16, 2016. Confirmed via Lockheed Martin and Leidos SEC filings (Form 424B3, DEFM14A) and joint press releases.