Roger Krone, chairman and CEO of Leidos (NYSE: LDOS) and 2021 Wash100 awardee, said the company wants to continue pursuing mergers and acquisitions amid the consolidation and competition for big information technology contracts within the federal market, the Washington Business Journal reported Friday.
“For us, now is not a time to become risk-adverse,” Krone told attendees at the virtual Cowen Aerospace/Defense & Industrials Conference Thursday.
He noted that Leidos will look to further expand offerings through complementary M&A deals that could provide a strategic advantage to the company.
“I think we are OK with overall corporate size, but there are clearly markets where we would like to have a bigger presence,” Krone added.
The Reston, Virginia-based government services contractor has made a number of acquisitions since its 2016 purchase of the information systems and global solutions business from Lockheed Martin (NYSE: LMT).
Last year, Leidos closed its $1.65 billion acquisition of Dynetics and $1 billion purchase of security detection and automation businesses of L3Harris Technologies (NYSE: LHX). The company also announced that it agreed to buy cloud services provider 1901 Group in December.
