Leidos announces agreement to sell Varec
RESTON, Va. (October 30, 2025) – Leidos (NYSE: LDOS) has entered into a definitive agreement to sell its wholly owned subsidiary, Varec. The transaction is in support of portfolio optimization efforts under its NorthStar 2030 strategy unveiled earlier this year.
“This transaction enables both Leidos and Varec to advance their missions and maximize long-term value,” said Vicki Schmanske, president of the Commercial & International Sector at Leidos. “By refining our portfolio, we’re executing our NorthStar 2030 strategy at pace and sharpening our focus on our strategic growth pillars.”
Founded in 1928 and acquired by Leidos in 2006, Varec provides automated fuel management solutions for defense and commercial customers worldwide.
The transaction is expected to close in the fourth quarter of 2025 subject to customary closing conditions.
About Leidos
Leidos is an industry and technology leader serving government and commercial customers with smarter, more efficient digital and mission innovations. Headquartered in Reston, Virginia, with 47,000 global employees, Leidos reported annual revenues of approximately $16.7 billion for the fiscal year ended January 3, 2025. For more information, visit www.leidos.com.
Certain statements in this announcement constitute “forward-looking statements” within the meaning of the rules and regulations of the U.S. Securities and Exchange Commission (SEC). These statements are based on management’s current beliefs and expectations and are subject to significant risks and uncertainties. These statements are not guarantees of future results or occurrences. A number of factors could cause our actual results, performance, achievements, or industry results to be different from the results, performance, or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, the “Risk Factors” set forth in Leidos’ Annual Report on Form 10-K for the fiscal year ended January 3, 2025, and other such filings that Leidos makes with the SEC from time to time. Readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Leidos does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.
