Leidos Closes 1901 Group Buy; Roger Krone, Gerry Fasano Quoted

Leidos (NYSE: LDOS) closed its $215M cash acquisition of 1901 Group, a provider of managed information technology and cloud platforms in public and private sectors, a month after it announced the transaction.

Leidos said Thursday it will operate 1901 Group as a wholly owned subsidiary and integrate the latter’s nearly 400 cloud, cyber and IT professionals with its team to help meet customers’ mission-critical requirements.

“We are thrilled to incorporate their managed services and cloud computing techniques to provide our customers with the tools they need for digital modernization,” said Roger Krone, chairman and CEO of Leidos and a seven-time Wash100 awardee.

Established in 2009, 1901 Group is based in Reston, Virginia, and is focused on delivering cybersecurity, cloud and enterprise-scale digital modernization support services to clients.

“This acquisition will further enable Leidos to achieve a differentiated and scaled defense business,” said Gerry Fasano, president of defense group at Leidos and a previous Wash100 award recipient.

Baird acted as exclusive adviser to 1901 Group in the transaction, while Pillsbury Winthrop Shaw Pittman serves as its legal adviser. Holland & Knight advises Leidos on the deal’s legal aspect.

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