LGS Innovations has bought signal processing and communications technology company Axios for an undisclosed amount in a move to complement LGS’ portfolio of intelligence, surveillance, and reconnaissance platforms.
Dulles, Virginia-based Axios will operate as a subsidiary of LGS and continue to support defense and intelligence agency customers with its mission-based technologies, LGS said Thursday.
“External acquisitions like Axios, coupled with our continuing internal investment strategy, are essential to the LGS growth strategy, ” said Kevin Kelly, LGS CEO.
Houlihan Lokey acted as Axios’ financial adviser on the transaction.
The deal marks LGS’ first acquisition activity since a Madison Dearborn Partners–CoVant alliance bought the Herndon-based contractor from Alcatel-Lucent in 2014 for $200 million.
LGS maintains programs to research and develop ISR, cybersecurity, wireless communications, radio frequency spectrum analysis and mobile broadband systems.