Leidos announces investment in innovative commercial radio frequency monitoring company HawkEye 360
(Reston, Va.) January 5, 2022 – Leidos (NYSE:LDOS), a FORTUNE® 500 science and technology leader, today announced it will make a strategic investment in HawkEye 360, the world’s leading commercial provider of space-based radio frequency (RF) data and analytics. The companies will share information and combine efforts to achieve transformational growth in data and analytical services.
“We are pleased to invest in HawkEye 360 and their innovative work to enhance geospatial intelligence solutions,” said Leidos National Security Space Executive Vice President Paul Engola. “We’re confident this investment will strengthen our robust capabilities in the National Security Space arena. This will also create innovative pathways to deliver bold solutions to our customers as they work to safeguard U.S. and allied interests.”
“HawkEye 360 is pleased to welcome such a distinguished defense and intelligence leader as Leidos to our group of world class investors,” said HawkEye 360 CEO John Serafini. “We look forward to harnessing their support to create significant value not only for the defense, intelligence and national security communities, but also for organizations addressing some of the most complex global challenges facing humanity and the environment.”
Leidos’ investment in HawkEye 360 will build on the company’s multi-decade heritage of serving National Security Space customers. It will also support the creation of new, differentiated technological capabilities.
HawkEye 360 delivers a groundbreaking source of global knowledge based on RF geospatial intelligence, further accentuating Leidos’ efforts to make the world a safer place. This mutual agreement will accelerate the company's growth while creating new opportunities for customers in the humanitarian, environmental, commercial and national security sectors.
Leidos is a Fortune 500® technology, engineering, and science solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, civil, and health markets. The company's 43,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Va., Leidos reported annual revenues of approximately $12.30 billion for the fiscal year ended January 1, 2021. For more information, visit www.Leidos.com.
About HawkEye 360
HawkEye 360 is delivering a revolutionary source of global knowledge based on radio frequency (RF) geospatial intelligence to those working to make the world a safer place. The company operates the first-of-its-kind commercial satellite constellation to detect, characterize, and geolocate a broad range of RF signals. This unique RF data and analytics equip our global customers with high-impact insights needed to make decisions with confidence. HawkEye 360 is headquartered in Herndon, Virginia.
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 proposed investment in HawkEye 360 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 risks relating to the impacts of COVID-19 and related actions taken to prevent its spread, 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 achieve anticipated benefits from the investment, and the risk that disruptions from the transaction will harm Leidos' business. 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 1, 2021, 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. 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.