Leidos forms security screening JV with Analogic
Leidos Holdings is reshaping its portfolio by forming a new joint venture with Altaris-owned Analogic that combines Leidos’ Security Enterprise Solutions and Industrial Automation businesses with Analogic’s imaging and detection operations.
Rhea-AI Filing Summary
Leidos Holdings is reshaping its portfolio by forming a new joint venture with Altaris-owned Analogic that combines Leidos’ Security Enterprise Solutions and Industrial Automation businesses with Analogic’s imaging and detection operations. Leidos will contribute subsidiaries holding these assets and receive 41.5% of the JV’s equity, while Altaris affiliates will own 58.5%.
The deal contributes about 1,500 Leidos employees and $625 million in projected 2026 revenue into the JV, which will operate under the Analogic brand and focus on global security screening technologies, including AI-native and 3D imaging solutions. Closing is targeted for the second half of 2026, subject to regulatory approvals, completion of a pre-closing restructuring, and new debt financing at the JV level.
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Insights
Leidos is carving out a security screening unit into a JV while retaining a sizable minority stake.
Leidos is contributing its Security Enterprise Solutions and Industrial Automation businesses into a joint venture with Altaris-owned Analogic. Leidos will hold 41.5% of the new company, with Altaris affiliates at 58.5%, creating a focused, U.S.-based detection and imaging platform.
The transaction shifts roughly $625 million of projected 2026 revenue and about 1,500 employees into the JV, versus Leidos’ broader $17.2 billion annual revenue base. This suggests a strategic portfolio refocus rather than a wholesale transformation, while preserving economic exposure through minority ownership.
Closing is expected in the second half of 2026, subject to Hart-Scott-Rodino clearance, other regulatory approvals, completion of a pre-closing restructuring and securing new JV debt financing. Execution risk centers on obtaining approvals and successfully integrating SES/IA with Analogic to deliver the anticipated technology and efficiency benefits.
8-K Event Classification
Key Figures
Key Terms
Contribution and Equity Purchase Agreement financial
Hart-Scott-Rodino Antitrust Improvements Act of 1976 regulatory
Debt Financing financial
non-competition regulatory
representations and warranties insurance financial
forward-looking statements regulatory
FAQ
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What joint venture did Leidos (LDOS) announce with Analogic and Altaris?
How much of the new security joint venture will Leidos (LDOS) own?
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When is the Leidos–Analogic joint venture expected to close?
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AI-generated analysis. How Rhea-AI works. Not financial advice.