Jump to content

Leidos: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous edit
Content deleted Content added
VisualWikitext
→As SAIC: Grammar
Tags: Mobile edit Mobile web edit
GreenC bot (talk | contribs)
Bots
2,521,419 edits
 
(28 intermediate revisions by 19 users not shown)
Line 9: Line 9:
| traded_as = {{unbulleted list|{{NYSE|LDOS}}|[[S&P 500]] component}}
| traded_as = {{unbulleted list|{{NYSE|LDOS}}|[[S&P 500]] component}}
| industry = [[National security]], [[Arms industry|defense]], [[Healthcare industry|healthcare]], [[engineering]]
| industry = [[National security]], [[Arms industry|defense]], [[Healthcare industry|healthcare]], [[engineering]]
| founded = {{Start date and age|1969|6}}<br>[[La Jolla]], [[San Diego]], [[California]], U.S.<br/> [[McLean, Virginia|McLean]], [[Virginia]], U.S.
| founded = {{Unbulleted list||{{Start date and age|1969|6}} in [[La Jolla]], [[San Diego]], [[California]], U.S. (as SAI)|{{Start date and age|2013|9|27}} [[McLean, Virginia|McLean]], [[Virginia]], U.S. (as Leidos)}}
| founder = [[John Robert Beyster|J. Robert "Bob" Beyster]]
| founder = [[John Robert Beyster|J. Robert "Bob" Beyster]]
| predecessor = {{Unbulleted list|Leidos IT (Lockheed Martin IS&GS) |Science Applications Incorporated (SAI)|[[Science Applications International Corporation]] (SAIC)}}
| predecessor = {{Unbulleted list| Lockheed Martin IS&GS |Science Applications Incorporated (SAI)|[[Science Applications International Corporation]] (SAIC)}}
| location = [[Reston, Virginia]], U.S.
| location = [[Reston, Virginia]], U.S.
| key_people = [[Roger Krone]] ([[Chief Executive Officer|CEO]])
| key_people = Thomas Bell ([[Chief Executive Officer|CEO]])
| revenue = {{Increase}} {{US$|13.74 billion|link=yes}} (2021)<ref name="leidos.com1"/>
| revenue = {{Increase}} {{US$|15.4 billion|link=yes}} (2023)
| operating_income = {{Increase}} {{US$|1.15 billion}} (2021)<ref name="leidos.com1"/>
| operating_income = {{Decrease}} {{US$|621 million}} (2023)
| net_income = {{Increase}} {{US$|773 million}} (2021)<ref name="leidos.com1"/>
| net_income = {{Decrease}} {{US$|208 million}} (2023)
| assets = {{nowrap|{{Increase}} US$13.26 billion (2021)}}<ref name="leidos.com1"/>
| assets = {{nowrap|{{Decrease}} US$12.7 billion (2023)}}
| equity = {{nowrap|{{Increase}} US$4.29 billion (2021)}}<ref name="leidos.com1"/>
| equity = {{nowrap|{{Decrease}} US$4.26 billion (2023)}}
| num_employees = 43,000<ref name="leidos.com1"/>
| num_employees = ~47,000
| num_employees_year = 2021
| num_employees_year = 2023
| homepage = {{URL|leidos.com}}
| homepage = {{URL|leidos.com}}
| footnotes = <ref name="leidos.com1">{{Cite web|url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1336920/000133692022000007/ldos-20211231.htm|title=Leidos Holdings, Inc. 2021 Annual Report (Form 10-K) |date=February 15, 2022 |publisher=[[U.S. Securities and Exchange Commission]]}}</ref><ref name=Aitoro1>{{Cite news | last=Aitoro | first=Jill R. | title=What to expect from Leidos and SAIC when they start trading Sept. 30 | url=https://www.bizjournals.com/washington/blog/fedbiz_daily/2013/09/what-to-expect-from-leidos-and-saic.html | work=[[American City Business Journals]] | date=September 27, 2013}}</ref><ref name=Aitoro2>{{Cite news | last=Aitoro |first=Jill R. | title=Exclusive: John Jumper explains why the Leidos-SAIC split had to happen | url=https://www.bizjournals.com/washington/blog/fedbiz_daily/2013/09/the-saic-split-is-done-leidos-ceo.html | work=[[American City Business Journals]] | date=September 27, 2013}}</ref><ref name=leidos.com>{{Cite web|title=www.leidos.com|url=http://www.leidos.com|access-date=September 29, 2013}}</ref><ref name=saic_9_9>{{Cite web|title=SAIC, Inc.'s Board of Directors Approves Spin-Off of its Services Business|url=http://investors.leidos.com/phoenix.zhtml?c=193857&p=irol-newsArticle&ID=1853224|date=September 9, 2013|access-date=September 29, 2013}}</ref>
| footnotes = <ref name="leidos.com1">{{Cite web|url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1336920/000133692024000008/ldos-20231229.htm|title=Leidos Holdings, Inc. 2023 Annual Report (Form 10-K) |date=February 13, 2024 |publisher=[[U.S. Securities and Exchange Commission]]}}</ref><ref name=Aitoro1>{{Cite news | last=Aitoro | first=Jill R. | title=What to expect from Leidos and SAIC when they start trading Sept. 30 | url=https://www.bizjournals.com/washington/blog/fedbiz_daily/2013/09/what-to-expect-from-leidos-and-saic.html | work=[[American City Business Journals]] | date=September 27, 2013}}</ref><ref name=Aitoro2>{{Cite news | last=Aitoro |first=Jill R. | title=Exclusive: John Jumper explains why the Leidos-SAIC split had to happen | url=https://www.bizjournals.com/washington/blog/fedbiz_daily/2013/09/the-saic-split-is-done-leidos-ceo.html | work=[[American City Business Journals]] | date=September 27, 2013}}</ref><ref name=leidos.com>{{Cite web|title=www.leidos.com|url=http://www.leidos.com|access-date=September 29, 2013}}</ref><ref name=saic_9_9>{{Cite web|title=SAIC, Inc.'s Board of Directors Approves Spin-Off of its Services Business|url=http://investors.leidos.com/phoenix.zhtml?c=193857&p=irol-newsArticle&ID=1853224|date=September 9, 2013|access-date=September 29, 2013}}</ref>
}}
}}
'''Leidos''', formerly known as '''Science Applications International Corporation''' (SAIC),<ref name=AR2013>{{cite web|last=Science Applications International Corporation|title=Fiscal Year 2013 annual report on Form 10-K|url=http://www.saic.com/news/pdf/AnnualReport2013.pdf|access-date=August 9, 2013|archive-url=https://web.archive.org/web/20131002020528/http://www.saic.com/news/pdf/AnnualReport2013.pdf|archive-date=October 2, 2013|url-status=dead}}</ref> is an American [[defense company|defense]], [[Aerospace manufacturer|aviation]], [[information technology]] ('''Lockheed Martin IS&GS'''), and [[biomedical research]] company headquartered in [[Reston, Virginia]], that provides scientific, engineering, [[systems integration]], and technical services. Leidos merged with '''Lockheed Martin's''' IT sector, Information Systems & Global Solutions, in August 2016 to create the defense industry’s largest IT services provider. The '''Leidos'''-'''Lockheed Martin''' merger is one of the biggest transactions thus far in the consolidation of a defense sector. Leidos works extensively with the [[United States Department of Defense]], the [[United States Department of Homeland Security]], and the [[United States Intelligence Community]], including the [[National Security Agency|NSA]], as well as other U.S. government civil agencies and selected commercial markets.
'''Leidos Holdings, Inc.''' is an American [[defense company|defense]], [[Aerospace manufacturer|aviation]], [[information technology]], and [[biomedical research]] company headquartered in [[Reston, Virginia]], that provides scientific, engineering, [[systems integration]], and technical services. Founded as Science Applications International Corporation (SAIC),[6] Leidos merged with '''Lockheed Martin's''' IT sector, Information Systems & Global Solutions ('''Lockheed Martin IS&GS'''), in August 2016 to create the defense industry’s largest IT services provider. The Leidos-Lockheed Martin merger is one of the biggest transactions thus far in the consolidation of the defense sector. Leidos contracts extensively with the [[United States Department of Defense|Department of Defense]], the [[United States Department of Homeland Security|Department of Homeland Security]], and the [[United States Intelligence Community|Intelligence Community]], as well as other U.S. government agencies and select commercial markets.


==History==
==History==
Line 31: Line 31:
The company was founded by [[John Robert Beyster|J. Robert "Bob" Beyster]] in 1969 in the [[La Jolla]] neighborhood of [[San Diego]], [[California]], as Science Applications Incorporated (SAI).<ref name=BeysterEconomyBook>Dr. J. Robert Beyster with [[Peter Economy]], ''The SAIC Solution: How We Built an $8 Billion Employee-Owned Technology Company'', John Wiley & Sons (2007) p.xiii</ref><ref name=Glass2007>{{cite news|last1=Glass|first1=Jon W.|title=SAIC creator's book touts employee ownership|url=http://hamptonroads.com/node/245611|access-date=27 November 2014|agency=The Virginian-Pilot|date=April 3, 2007|quote=Beyster, 82, retired as SAIC's chairman in July 2004. A nuclear physicist by training and a self-described "evangelist" for employee-owned companies, Beyster said he wrote the book to provide entrepreneurs and business executives a model. He wrote it with Peter Economy, an author or co-author of several business books.}}</ref> Beyster, a former scientist for the [[Westinghouse Electric Corporation|Westinghouse]] Atomic Power Division<ref>{{Cite web|url=https://federalnewsnetwork.com/acquisition/2014/12/saic-leidos-founder-dead-at-90/|title=SAIC, Leidos founder dead at 90|date=December 23, 2014|website=Federal News Network}}</ref> and [[Los Alamos National Laboratory]],<ref>{{Cite web|url=http://www.sddt.com/news/article.cfm?SourceCode=20141223cza|title=SAIC founder J. Robert Beyster dies at age 90|first=Daily Transcript staff|last=report|date=December 23, 2014|website=The Daily Transcript}}</ref> who became the chairman of the Accelerator Physics Department of [[General Atomics]] in 1957,<ref>{{Cite web |url=https://www.leidos.com/feature/the-solutions-man |title=The Solutions Man |access-date=June 16, 2018 |archive-url=https://web.archive.org/web/20141223221124/https://www.leidos.com/feature/the-solutions-man |archive-date=December 23, 2014 |url-status=dead }}</ref> raised the money to start SAI by selling stock he had received from General Atomics, combined with funds raised from the early employees who bought stock in the young enterprise.<ref>{{Cite web|url=https://www.sandiegouniontribune.com/lifestyle/people/sdut-beyster-saic-dies-2014dec22-htmlstory.html|title=SAIC founder J. Robert Beyster dies|date=December 23, 2014|website=San Diego Union-Tribune}}</ref>
The company was founded by [[John Robert Beyster|J. Robert "Bob" Beyster]] in 1969 in the [[La Jolla]] neighborhood of [[San Diego]], [[California]], as Science Applications Incorporated (SAI).<ref name=BeysterEconomyBook>Dr. J. Robert Beyster with [[Peter Economy]], ''The SAIC Solution: How We Built an $8 Billion Employee-Owned Technology Company'', John Wiley & Sons (2007) p.xiii</ref><ref name=Glass2007>{{cite news|last1=Glass|first1=Jon W.|title=SAIC creator's book touts employee ownership|url=http://hamptonroads.com/node/245611|access-date=27 November 2014|agency=The Virginian-Pilot|date=April 3, 2007|quote=Beyster, 82, retired as SAIC's chairman in July 2004. A nuclear physicist by training and a self-described "evangelist" for employee-owned companies, Beyster said he wrote the book to provide entrepreneurs and business executives a model. He wrote it with Peter Economy, an author or co-author of several business books.}}</ref> Beyster, a former scientist for the [[Westinghouse Electric Corporation|Westinghouse]] Atomic Power Division<ref>{{Cite web|url=https://federalnewsnetwork.com/acquisition/2014/12/saic-leidos-founder-dead-at-90/|title=SAIC, Leidos founder dead at 90|date=December 23, 2014|website=Federal News Network}}</ref> and [[Los Alamos National Laboratory]],<ref>{{Cite web|url=http://www.sddt.com/news/article.cfm?SourceCode=20141223cza|title=SAIC founder J. Robert Beyster dies at age 90|first=Daily Transcript staff|last=report|date=December 23, 2014|website=The Daily Transcript}}</ref> who became the chairman of the Accelerator Physics Department of [[General Atomics]] in 1957,<ref>{{Cite web |url=https://www.leidos.com/feature/the-solutions-man |title=The Solutions Man |access-date=June 16, 2018 |archive-url=https://web.archive.org/web/20141223221124/https://www.leidos.com/feature/the-solutions-man |archive-date=December 23, 2014 |url-status=dead }}</ref> raised the money to start SAI by selling stock he had received from General Atomics, combined with funds raised from the early employees who bought stock in the young enterprise.<ref>{{Cite web|url=https://www.sandiegouniontribune.com/lifestyle/people/sdut-beyster-saic-dies-2014dec22-htmlstory.html|title=SAIC founder J. Robert Beyster dies|date=December 23, 2014|website=San Diego Union-Tribune}}</ref>


Initially the company's focus was on projects for the U.S. government related to nuclear power and weapons effects study programs. The company was renamed [[Science Applications International Corporation]] (SAIC) as it expanded its operations. Major projects during Beyster's tenure included work on [[radiation therapy]] for the Los Alamos National Laboratory; technical support and management assistance to the development of the [[cruise missile]] in the 1970s; the cleanups of the [[Three Mile Island Nuclear Generating Station]] after its major [[Three Mile Island accident|accident]], and of the contaminated community of [[Love Canal]]; design and performance evaluation of the [[Stars & Stripes 87]], the winning ship for the [[1987 America's Cup]]; and the design of the first luggage inspection machine to pass new [[Federal Aviation Administration]] tests following the terrorist bombing of [[Pan American flight 103]] over [[Lockerbie, Scotland]].<ref name="LeidosHistory">{{cite web |title=Our History |url=http://www.leidos.com/about/history |publisher=Leidos |access-date=16 June 2018}}</ref>
Initially, the company's focus was on projects for the U.S. government related to nuclear power and weapons effects study programs. The company was renamed [[Science Applications International Corporation]] (SAIC) as it expanded its operations. Major projects during Beyster's tenure included work on [[radiation therapy]] for the Los Alamos National Laboratory; technical support and management assistance to the development of the [[cruise missile]] in the 1970s; the cleanups of the [[Three Mile Island Nuclear Generating Station]] after its major [[Three Mile Island accident|accident]], and of the contaminated community of [[Love Canal]]; design and performance evaluation of the [[Stars & Stripes 87]], the winning ship for the [[1987 America's Cup]]; and the design of the first luggage inspection machine to pass new [[Federal Aviation Administration]] tests following the terrorist bombing of [[Pan American flight 103]] over [[Lockerbie, Scotland]].<ref name="LeidosHistory">{{cite web |title=Our History |url=http://www.leidos.com/about/history |publisher=Leidos |access-date=16 June 2018}}</ref>


Contrary to traditional business models, Beyster originally designed SAIC as an [[employee ownership|employee-owned company]].<ref name=BeysterEconomyBook/><ref name=Glass2007/> This shared ownership was accompanied by shared responsibility and freedom in business development, and allowed SAIC to attract and retain highly educated and motivated employees that helped the company to grow and diversify. After Beyster's retirement in 2003, SAIC conducted an [[initial public offering]] of [[common stock]] on October 17, 2006.<ref name="ipo">[http://investors.saic.com/phoenix.zhtml?c=193857&p=irol-newsArticle&ID=918956&highlight= SAIC - News & Media - "SAIC, Inc. Announces Closing of Initial Public Offering"] {{webarchive|url=https://web.archive.org/web/20071009004853/http://investors.saic.com/phoenix.zhtml?c=193857&p=irol-newsArticle&ID=918956&highlight= |date=October 9, 2007 }}. Investors.saic.com. Retrieved on August 17, 2013.</ref> The offering of 86,250,000 shares of common stock was priced at $15.00 per share. The underwriters, [[Bear Stearns]] and [[Morgan Stanley]], exercised [[overallotment option]]s, resulting in 11.25 million shares. The IPO raised US$1.245B.<ref name="ipo" /> Even then, employee shares retained a privileged status, having ten times the voting power per share over common stock.<ref name="Bigelow2005">{{cite news |last1=Bigelow |first1=Bruce V |title=Long owned by employees, SAIC says it's going public |url=http://legacy.sandiegouniontribune.com/uniontrib/20050902/news_1n2saic.html |access-date=16 June 2018 |work=[[San Diego Union-Tribune]] |date=2 September 2005}}</ref>
Contrary to traditional business models, Beyster originally designed SAIC as an [[employee ownership|employee-owned company]].<ref name=BeysterEconomyBook/><ref name=Glass2007/> This shared ownership was accompanied by shared responsibility and freedom in business development, and allowed SAIC to attract and retain highly educated and motivated employees that helped the company to grow and diversify. After Beyster's retirement in 2003, SAIC conducted an [[initial public offering]] of [[common stock]] on October 17, 2006.<ref name="ipo">[http://investors.saic.com/phoenix.zhtml?c=193857&p=irol-newsArticle&ID=918956&highlight= SAIC - News & Media - "SAIC, Inc. Announces Closing of Initial Public Offering"] {{webarchive|url=https://web.archive.org/web/20071009004853/http://investors.saic.com/phoenix.zhtml?c=193857&p=irol-newsArticle&ID=918956&highlight= |date=October 9, 2007 }}. Investors.saic.com. Retrieved on August 17, 2013.</ref> The offering of 86,250,000 shares of common stock was priced at $15.00 per share. The underwriters, [[Bear Stearns]] and [[Morgan Stanley]], exercised [[overallotment option]]s, resulting in 11.25 million shares. The IPO raised US$1.245 billion.<ref name="ipo" /> Even then, employee shares retained a privileged status, having ten times the voting power per share over common stock.<ref name="Bigelow2005">{{cite news |last1=Bigelow |first1=Bruce V |title=Long owned by employees, SAIC says it's going public |url=http://legacy.sandiegouniontribune.com/uniontrib/20050902/news_1n2saic.html |access-date=16 June 2018 |work=[[San Diego Union-Tribune]] |date=2 September 2005}}</ref>


In September 2009 SAIC relocated its corporate headquarters to their existing facilities in [[Tysons Corner, Virginia|Tysons Corner]] in [[unincorporated area|unincorporated]] [[Fairfax County, Virginia|Fairfax County]], [[Virginia]], near [[McLean, Virginia|McLean]].<ref>[http://news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=104&STORY=/www/story/09-24-2009/0005100520&EDATE= "SAIC Moves Corporate Headquarters to McLean, Virginia"] {{webarchive|url=https://web.archive.org/web/20091001154001/http://news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=104 |date=October 1, 2009 }}</ref>
In September 2009 SAIC relocated its corporate headquarters to their existing facilities in [[Tysons Corner, Virginia|Tysons Corner]] in [[unincorporated area|unincorporated]] [[Fairfax County, Virginia|Fairfax County]], [[Virginia]], near [[McLean, Virginia|McLean]].<ref>[http://news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=104&STORY=/www/story/09-24-2009/0005100520&EDATE= "SAIC Moves Corporate Headquarters to McLean, Virginia"] {{webarchive|url=https://web.archive.org/web/20091001154001/http://news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=104 |date=October 1, 2009 }}</ref>


In 2012 SAIC was ordered to pay $550 million to the [[City of New York]] for [[overbilling]] the city over a period of seven years on the [[CityTime payroll scandal|CityTime]] contract.<ref>{{cite news |url= https://www.informationweek.com/it-strategy/saic-pays-$500-million-in-record-settlement-with-nyc/d/d-id/1103390? |title=SAIC Pays $500 Million In Record Settlement With NYC |author=Paul McDougall |work=[[InformationWeek]] |date=March 15, 2012 |access-date=September 25, 2013}}</ref> In 2014 Gerard Denault, SAIC's CityTime program manager, and his government contact were sentenced to 20 years in prison for fraud and bribery related to that contract.<ref>{{cite news|last=Calder|first=Rich|title=CityTime head, accomplices sentenced to 20 years in prison|url=https://nypost.com/2014/04/29/citytime-head-accomplices-sentenced-to-20-years-in-prison/|access-date=14 May 2014|newspaper=[[New York Post]]|date=29 April 2014}}</ref>
In 2012 SAIC was ordered to pay $550 million to the [[New York City|City of New York]] for [[overbilling]] the city over a period of seven years on the [[CityTime payroll scandal|CityTime]] contract.<ref>{{cite news |url= https://www.informationweek.com/it-strategy/saic-pays-$500-million-in-record-settlement-with-nyc/d/d-id/1103390? |title=SAIC Pays $500 Million In Record Settlement With NYC |author=Paul McDougall |work=[[InformationWeek]] |date=March 15, 2012 |access-date=September 25, 2013}}</ref> In 2014 Gerard Denault, SAIC's CityTime program manager, and his government contact were sentenced to 20 years in prison for fraud and bribery related to that contract.<ref>{{cite news|last=Calder|first=Rich|title=CityTime head, accomplices sentenced to 20 years in prison|url=https://nypost.com/2014/04/29/citytime-head-accomplices-sentenced-to-20-years-in-prison/|access-date=14 May 2014|newspaper=[[New York Post]]|date=29 April 2014}}</ref>


===As Leidos===
===As Leidos===
{{ods|reason=number of employees|date=September 2022}}
[[File:2017 Capital Pride (Washington, D.C.) - 031.jpg|thumb|right|Leidos employees in 2017 [[Capital Pride (Washington, D.C.)|Capital Pride]] in Washington, D.C.]]
⚫
In August 2012, SAIC announced its plans to split into two publicly traded companies.<ref>{{cite news|last=Censer|first=Marjorie|title=SAIC to split into two public companies|url=https://www.washingtonpost.com/business/capitalbusiness/saic-to-split-into-two-public-companies/2012/08/30/c880f140-f2e5-11e1-a612-3cfc842a6d89_story.html|access-date=March 4, 2013|newspaper=Washington Post|date=August 30, 2012}}</ref><ref>{{cite news|title=SAIC, Inc. (SAI) to Spin Off Services Business|url=http://www.streetinsider.com/Hot+Corp.+News/SAIC,+Inc.+%28SAI%29+to+Spin+Off+Services+Business/8671506.html|access-date=September 9, 2013|newspaper=streetinsider.com|date=September 9, 2013}}</ref> The company [[Corporate spin-off|spun off]] about a third of its business, forming an approximately $4 billion-per-year service company focused on government services, including systems engineering, technical assistance, financial analysis, and program office support. The remaining part became a $7 billion-per-year IT company specializing in technology for the national security, health, and engineering sectors. The smaller company was led by Tony Moraco, who beforehand was leading SAIC's ''Intelligence, Surveillance and Reconnaissance'' group, and the bigger one was led by [[John P. Jumper]].<ref>{{cite news|last=Censer|first=Marjorie|title=When SAIC splits, Jumper and Moraco will head companies|url=https://www.washingtonpost.com/blogs/capital-business/post/when-saic-splits-jumper-and-moraco-will-head-companies/2012/11/05/83880944-2750-11e2-9972-71bf64ea091c_blog.html|access-date=April 15, 2014|newspaper=Washington Post|date=November 5, 2012}}</ref> The split has allowed both companies to pursue more business, which it could not pursue as a single company which would have resulted in [[conflict of interest|conflicts of interest]].<ref>{{cite news|last=Censer|first=Marjorie|title=SAIC to name technology business Leidos|url=https://www.washingtonpost.com/business/capitalbusiness/saic-to-name-technology-business-leidos/2013/03/01/e1be6b20-7d3b-11e2-82e8-61a46c2cde3d_story.html|access-date=March 4, 2013 |newspaper=Washington Post|date=March 3, 2013}}</ref> In February 2013, it was announced that the smaller spin-off company would get the name "Science Applications International Corporation" and stay in the current headquarters, while the larger company would change its name to ''Leidos'',<ref>{{cite news|last=Censer|first=Marjorie|title=SAIC to name solutions business Leidos|url=https://www.washingtonpost.com/blogs/capital-business/post/saic-to-name-solutions-business-leidos/2013/02/25/a0a2d9ba-755b-11e2-8f84-3e4b513b1a13_blog.html|access-date=March 4, 2013|newspaper=Washington Post|date=February 25, 2013}}</ref> (created by clipping the word ''ka'''leidos'''cope'') and would move its headquarters to [[Reston, Virginia]].<ref>{{cite press release|author=SAIC|title=Leidos Headquarters To Be In Reston, VA|url=https://www.prnewswire.com/news-releases/leidos-headquarters-to-be-in-reston-va-219241991.html|publisher=PR Newswire|date=August 12, 2013|access-date=August 15, 2013}}</ref> The split was structured in a way that SAIC changed its name to Leidos, then spun off the new SAIC as a separate publicly traded company. However, Leidos is the legal successor of the original SAIC and retains SAIC's pre-2013 stock price and corporate filing history.<ref>[https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=LDOS SEC Edgar database]</ref>


⚫
In August 2012, SAIC announced its plans to split into two publicly traded companies.<ref>{{cite news|last=Censer|first=Marjorie|title=SAIC to split into two public companies|url=https://www.washingtonpost.com/business/capitalbusiness/saic-to-split-into-two-public-companies/2012/08/30/c880f140-f2e5-11e1-a612-3cfc842a6d89_story.html|access-date=March 4, 2013|newspaper=Washington Post|date=August 30, 2012}}</ref><ref>{{cite news|title=SAIC, Inc. (SAI) to Spin Off Services Business|url=http://www.streetinsider.com/Hot+Corp.+News/SAIC,+Inc.+%28SAI%29+to+Spin+Off+Services+Business/8671506.html|access-date=September 9, 2013|newspaper=streetinsider.com|date=September 9, 2013}}</ref> The company [[Corporate spin-off|spun off]] about a third of its business, forming an approximately $4 billion-per-year service company focused on government services, including systems engineering, technical assistance, financial analysis, and program office support. The remaining part became a $7 billion-per-year IT company specializing in technology for the national security, health, and engineering sectors. The smaller company was led by Tony Moraco, who beforehand was leading SAIC's ''Intelligence, Surveillance and Reconnaissance'' group, and the bigger one was led by [[John P. Jumper]].<ref>{{cite news|last=Censer|first=Marjorie|title=When SAIC splits, Jumper and Moraco will head companies|url=https://www.washingtonpost.com/blogs/capital-business/post/when-saic-splits-jumper-and-moraco-will-head-companies/2012/11/05/83880944-2750-11e2-9972-71bf64ea091c_blog.html|access-date=April 15, 2014|newspaper=Washington Post|date=November 5, 2012}}</ref> The split has allowed both companies to pursue more business, which it could not pursue as a single company which would have resulted in [[conflict of interest|conflicts of interest]].<ref>{{cite news|last=Censer|first=Marjorie|title=SAIC to name technology business Leidos|url=https://www.washingtonpost.com/business/capitalbusiness/saic-to-name-technology-business-leidos/2013/03/01/e1be6b20-7d3b-11e2-82e8-61a46c2cde3d_story.html|access-date=March 4, 2013 |newspaper=Washington Post|date=March 3, 2013}}</ref> In February 2013, it was announced that the smaller spin-off company would get the name "Science Applications International Corporation" and stay in the current headquarters, while the larger company would change its name to ''Leidos'',<ref>{{cite news|last=Censer|first=Marjorie|title=SAIC to name solutions business Leidos|url=https://www.washingtonpost.com/blogs/capital-business/post/saic-to-name-solutions-business-leidos/2013/02/25/a0a2d9ba-755b-11e2-8f84-3e4b513b1a13_blog.html|access-date=March 4, 2013|newspaper=Washington Post|date=February 25, 2013}}</ref> (created by clipping the word ''kaleidoscope'') and would move its headquarters to [[Reston, Virginia]].<ref>{{cite press release|author=SAIC|title=Leidos Headquarters To Be In Reston, VA|url=https://www.prnewswire.com/news-releases/leidos-headquarters-to-be-in-reston-va-219241991.html|publisher=PR Newswire|date=August 12, 2013|access-date=August 15, 2013}}</ref> The split was structured in a way that SAIC changed its name to Leidos, then spun off the new SAIC as a separate publicly traded company. However, Leidos is the legal successor of the original SAIC and retains SAIC's pre-2013 stock price and corporate filing history.<ref>[https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=LDOS SEC Edgar database]</ref>
⚫
On September 27, 2013, SAIC changed its name to ''Leidos'' and [[Corporate spin-off|spun off]] a new and independent $4 billion government services and [[information technology]] company which retained the [[Science Applications International Corporation]] name; Leidos is the direct successor to the original SAIC.<ref name=Aitoro1/><ref name=Aitoro2/> Before the split, Leidos employed 39,600 employees and reported $11.17 billion in revenue and $525 million net income for its fiscal year ended January 31, 2013,<ref name="AR2013"/> making it number 240<ref>{{cite web|last=SAIC|title=Industry Rankings|url=http://www.saic.com/news/rankings.html|access-date=August 9, 2013|archive-url=https://web.archive.org/web/20130802214750/http://www.saic.com/news/rankings.html|archive-date=August 2, 2013|url-status=dead}}</ref> on the [[Fortune 500]] list. In 2014, Leidos reported US$5.06 billion in revenue.<ref name=Aitoro2/>


⚫
Before the split, Leidos employed 39,600 employees and reported $11.17 billion in revenue and $525 million net income for its fiscal year ended January 31, 2013,<ref name=AR2013>{{cite web|last=Science Applications International Corporation|title=Fiscal Year 2013 annual report on Form 10-K|url=http://www.saic.com/news/pdf/AnnualReport2013.pdf|access-date=August 9, 2013|archive-url=https://web.archive.org/web/20131002020528/http://www.saic.com/news/pdf/AnnualReport2013.pdf|archive-date=October 2, 2013|url-status=dead}}</ref> making it number 240<ref>{{cite web|last=SAIC|title=Industry Rankings|url=http://www.saic.com/news/rankings.html|access-date=August 9, 2013|archive-url=https://web.archive.org/web/20130802214750/http://www.saic.com/news/rankings.html|archive-date=August 2, 2013|url-status=dead}}</ref> on the [[Fortune 500]] list. In 2014, Leidos reported US$5.06 billion in revenue.<ref name=Aitoro2/>
⚫
In August 2016, the deal to merge with the entirety of [[Lockheed Martin|Lockheed Martin's]] Information Systems & Global Solutions (IS&GS) business came to a close, more than doubling the size of Leidos and its portfolio, and positioning the company as the global defense industry's largest enterprise in the federal technology sector.<ref name=Forbes>{{cite web|title=Leidos Deal Closes, Spawning Vast Solutions Enterprise|website=[[Forbes]]|url=https://www.forbes.com/sites/lorenthompson/2016/08/17/leidos-deal-closes-spawning-vast-solutions-enterprise/#cb8f2bc5a063|access-date=23 August 2016}}</ref> As of February 2019, the company has 32,000 employees.<ref name=leidos.com1/> In 2018, Leidos reported US$10.19 billion in revenue. It ranked 311 on the 2019 Fortune 500 list.<ref name="fortune.com">{{Cite web|url=https://fortune.com/fortune500/2019/leidos-holdings|title=Leidos Holdings|website=Fortune}}</ref>

⚫
In August 2016, the deal to merge with the entirety of [[Lockheed Martin|Lockheed Martin's]] Information Systems & Global Solutions (IS&GS) business came to a close, more than doubling the size of Leidos and its portfolio, and positioning the company as the global defense industry's largest enterprise in the federal technology sector.<ref name=Forbes>{{cite web|title=Leidos Deal Closes, Spawning Vast Solutions Enterprise|website=[[Forbes]]|url=https://www.forbes.com/sites/lorenthompson/2016/08/17/leidos-deal-closes-spawning-vast-solutions-enterprise/#cb8f2bc5a063|access-date=23 August 2016}}</ref>


In January 2020, Leidos purchased defense contractor [[Dynetics]] for approximately $1.65 billion.<ref>{{cite press release|title=Leidos completes acquisition of Dynetics, expanding company's portfolio with new offerings and technical capabilities|url=https://www.leidos.com/insights/leidos-completes-acquisition-dynetics-expanding-companys-portfolio-new-offerings|publisher=Leidos|date=January 31, 2020|access-date=February 1, 2020}}</ref><ref>{{Cite web|url=https://www.forbes.com/sites/lorenthompson/2020/04/22/leidos-discovers-its-business-model-adapts-surprisingly-well-to-coronavirus/|title=Leidos Discovers Its Business Model Adapts Surprisingly Well To Coronavirus|last=Thompson|first=Loren|website=Forbes|language=en|access-date=2020-04-24}}</ref><ref>{{Cite web|url=https://www.cnbc.com/2020/03/07/analysts-say-the-coronavirus-outbreak-wont-hurt-leidos-stock.html|title=Analysts say the coronavirus outbreak won't hurt the stock that Stifel calls 'The Terminator'|last=Pound|first=Jesse|date=2020-03-07|website=CNBC|language=en|access-date=2020-04-24}}</ref> In May 2020 it purchased the Security Detection and Automation Systems division of [[L3Harris]] (notable for providing the detection screeners that all airport travelers pass through when flying).<ref>{{Cite web|url=https://investors.leidos.com/news-and-events/news-releases/press-release-details/2020/Leidos-Completes-Acquisition-of-L3Harris-Technologies-Security-Detection-and-Automation-Businesses-Creating-a-Comprehensive-Global-Security-and-Detection-Portfolio/default.aspx|title = Leidos Completes Acquisition of L3Harris Technologies' Security Detection and Automation Businesses Creating a Comprehensive, Global Security and Detection Portfolio}}</ref>
In January 2020, Leidos purchased defense contractor [[Dynetics]] for approximately $1.65 billion.<ref>{{cite press release|title=Leidos completes acquisition of Dynetics, expanding company's portfolio with new offerings and technical capabilities|url=https://www.leidos.com/insights/leidos-completes-acquisition-dynetics-expanding-companys-portfolio-new-offerings|publisher=Leidos|date=January 31, 2020|access-date=February 1, 2020}}</ref><ref>{{Cite web|url=https://www.forbes.com/sites/lorenthompson/2020/04/22/leidos-discovers-its-business-model-adapts-surprisingly-well-to-coronavirus/|title=Leidos Discovers Its Business Model Adapts Surprisingly Well To Coronavirus|last=Thompson|first=Loren|website=Forbes|language=en|access-date=2020-04-24}}</ref><ref>{{Cite web|url=https://www.cnbc.com/2020/03/07/analysts-say-the-coronavirus-outbreak-wont-hurt-leidos-stock.html|title=Analysts say the coronavirus outbreak won't hurt the stock that Stifel calls 'The Terminator'|last=Pound|first=Jesse|date=2020-03-07|website=CNBC|language=en|access-date=2020-04-24}}</ref> In May 2020 it purchased the Security Detection and Automation Systems division of [[L3Harris]] (notable for providing the detection screeners that all airport travelers pass through when flying).<ref>{{Cite web|url=https://investors.leidos.com/news-and-events/news-releases/press-release-details/2020/Leidos-Completes-Acquisition-of-L3Harris-Technologies-Security-Detection-and-Automation-Businesses-Creating-a-Comprehensive-Global-Security-and-Detection-Portfolio/default.aspx|title = Leidos Completes Acquisition of L3Harris Technologies' Security Detection and Automation Businesses Creating a Comprehensive, Global Security and Detection Portfolio}}</ref>

As of December 2023, the company has 47,000 employees. In 2023, Leidos reported US$15.4 billion in revenue.<ref>{{Cite web |date=13 February 2024 |title=Leidos Holdings, Inc. Reports Fourth Quarter and Fiscal Year 2023 Results |url=https://investors.leidos.com/news-releases/news-release-details/leidos-holdings-inc-reports-fourth-quarter-and-fiscal-year-2023 |access-date=10 September 2024 |website=www.investors.leidos.com}}</ref> It ranked 266 on the 2024 Fortune 500 list.<ref>{{cite web | url=https://www.50pros.com/fortune500 | title=Fortune 500 Full List (2024) }}</ref>


==Structure==
==Structure==
Line 56: Line 57:
==Management==
==Management==


⚫
Retired Air Force general [[John P. Jumper]] was appointed CEO in 2012, and he oversaw the restructuring of SAIC into SAIC and Leidos.<ref name="Censer">{{cite news|url=https://www.washingtonpost.com/business/capitalbusiness/saic-to-split-into-two-public-companies/2012/08/30/c880f140-f2e5-11e1-a612-3cfc842a6d89_story.html|archive-url=https://web.archive.org/web/20131004214209/http://articles.washingtonpost.com/2012-08-30/business/35493553_1_saic-l-3-split|url-status=live|archive-date=October 4, 2013|title=SAIC to split into two public companies|last=Censer|first=Marjorie|date=August 30, 2012|newspaper=The Washington Post|access-date=January 8, 2013}}</ref> On July 1, 2014, Leidos announced that [[Roger Krone]] would become its CEO on July 14, 2014.<ref name="wspa_krone">{{cite news|title=Leidos Announces Roger A. Krone As CEO|url=http://www.wspa.com/story/25913407/leidos-announces-roger-a-krone-as-ceo|date=1 July 2014|access-date=1 July 2014|publisher=wspa.com}}</ref> On February 27, 2023, Leidos announced the appointment of Thomas Bell as Chief Executive Officer starting on May 3, 2023.<ref name="ldos_bell"> {{cite press release | title=Leidos selects Thomas Bell as incoming CEO | publisher=Leidos | url=https://leidos.com/insights/leidos-selects-thomas-bell-incoming-ceo | date=27 Feb 2023}}</ref>
*CEO: [[Roger Krone]]<ref name="wspa_krone"/><ref name="leidos_krone"/>

After more than 30 years of Beyster's leadership, [[Kenneth C. Dahlberg]] was named the CEO of SAIC in November 2003.<ref>{{Cite news|url=https://www.wsj.com/articles/SB106556488428954000|title=SAIC Names Dahlberg New CEO|date=2003-10-07|work=Wall Street Journal|access-date=2020-01-28|language=en-US|issn=0099-9660}}</ref> In May 2005, the company changed its external tagline from ''An Employee-Owned Company'' to ''From Science to Solutions''.

⚫
The third CEO was [[Walt Havenstein]], who pushed for tighter integration of the company's historically autonomous divisions, which led to lower profit and revenue. The strategy was reversed by the fourth CEO, retired Air Force general [[John P. Jumper]], appointed in 2012.<ref name="Censer">{{cite news|url=https://articles.washingtonpost.com/2012-08-30/business/35493553_1_saic-l-3-split|archive-url=https://web.archive.org/web/20131004214209/http://articles.washingtonpost.com/2012-08-30/business/35493553_1_saic-l-3-split|url-status=dead|archive-date=October 4, 2013|title=SAIC to split into two public companies|last=Censer|first=Marjorie|date=August 30, 2012|newspaper=The Washington Post|access-date=January 8, 2013}}</ref> On July 1, 2014, Leidos announced that [[Roger Krone]] would become its CEO on July 14, 2014.<ref name="wspa_krone">{{cite news|title=Leidos Announces Roger A. Krone As CEO|url=http://www.wspa.com/story/25913407/leidos-announces-roger-a-krone-as-ceo|date=1 July 2014|access-date=1 July 2014|publisher=wspa.com}}</ref> As of 2019, Krone is the Chairman and CEO of Leidos.<ref name="leidos_krone">{{cite web|url=https://www.leidos.com/about/leadership| title= ''Leadership'' Leidos.com |access-date= Feb 13, 2019}}</ref>

==Headquarters==

In January 2018, Leidos announced it would move within [[Reston, VA]], a quarter mile from 11951 Freedom Drive to 1750 Presidents Street. The new building was completed in early 2020.<ref>
{{cite press release| title = Leidos Announces Move to New Headquarters Facility in Reston Town Center | publisher=Leidos | url=https://investors.leidos.com/news-and-events/news-releases/press-release-details/2018/Leidos-Announces-Move-to-New-Headquarters-Facility-in-Reston-Town-Center/default.aspx| date =January 30, 2018 }}</ref><ref>{{cite news | first=Daniel J. | last=Sernovitz | title=Leidos to merge workforces into new headquarters space | work=[[American City Business Journals]] | url=https://www.bizjournals.com/washington/news/2018/01/30/leidos-to-merge-workforces-into-new-headquarters.html | date=January 30, 2018}}</ref><ref>
{{cite news
|first= Fatimah
| last = Waseem
| title = Boston Properties Reports Strong Leasing Activity Despite COVID-19
| publisher = Reston Now
| url = https://www.restonnow.com/2020/04/30/boston-properties-reports-strong-leasing-activity-despite-covid-19/
| date = 30 April 2020
| access-date = 30 April 2020}}</ref>

==Operations==

The [[Defense Intelligence Agency]] (DIA) transitioned a Remote Viewing Program to SAIC in 1991 which was renamed [[Stargate Project]].

In March 2001, SAIC defined the concept for the [[National Security Agency|NSA]] [[Trailblazer Project]]. In 2002, NSA contracted SAIC for $280 million to produce a "technology demonstration platform" {{clarify|date=February 2014}} for the agency's project, a "[[Digital Network Intelligence]]" system to analyze data carried on computer networks. Other project participants included [[Boeing]], [[Computer Sciences Corporation]], and [[Booz Allen Hamilton]].<ref>{{cite news
|url = http://www.washingtontechnology.com/online/1_1/19355-1.html
|title = SAIC team gets demonstration phase of Trailblazer
|date = October 21, 2002
|publisher = Washington Technology
|author = Patience Wait
|url-status = dead
|archive-url = https://web.archive.org/web/20080302035521/http://www.washingtontechnology.com/online/1_1/19355-1.html
|archive-date = March 2, 2008
|df = mdy-all
}}</ref> According to science news site [[PhysOrg.com]], Trailblazer was a continuation of the earlier [[ThinThread]] program.<ref>{{cite web
|url=http://www.physorg.com/news67784662.html
|title=NSA datamining pushes tech envelope
|date=May 25, 2006
|publisher=PhysOrg.com}}</ref> In 2005, NSA director [[Michael Hayden (general)|Michael Hayden]] told a Senate hearing that the Trailblazer program was several hundred million dollars over budget and years behind schedule.<ref>{{cite web
|url=http://www.spacewar.com/news/miltech-05zx.html
|title=NSA's New Boss Puts Faith In Hi Tech Fixes
|author=Martin Sieff
|date=August 18, 2005
|publisher=Space War}}</ref>

In fiscal year 2003, SAIC did more than $2.6 billion in business with the [[United States Department of Defense]], making it the ninth-largest defense contractor in the United States. Other large contracts included a bid for [[information technology]] for the [[2004 Olympics]] in Greece.<ref>{{cite web|title=After Olympics contractors leave behind IT legacy| work=Washington Technology| url=http://www.washingtontechnology.com/news/19_12/cover-stories/24520-1.html| access-date=August 13, 2006 |archive-url = https://web.archive.org/web/20060506131219/http://www.washingtontechnology.com/news/19_12/cover-stories/24520-1.html <!-- Bot retrieved archive --> |archive-date = May 6, 2006}}</ref>

From 2001 to 2005, SAIC was the primary contractor for the [[FBI]]'s unsuccessful [[Virtual Case File]] project.<ref>{{cite news | title=The FBI's Upgrade That Wasn't | newspaper=Washington Post | url=https://www.washingtonpost.com/wp-dyn/content/article/2006/08/17/AR2006081701485.html | access-date=February 8, 2007 | first1=Dan | last1=Eggen | first2=Griff | last2=Witte | date=August 18, 2006}}</ref>

During fiscal year 2012 (latest figure available), SAIC had more than doubled its business with the DoD to $5,988,489,000, and was the 4th-largest defense contractor on the annual list of the top 100.<ref>{{cite web|url=http://washingtontechnology.com/toplists/top-100-lists/2013.aspx|title=top-100-lists 2013|publisher=Washington Technology, info business for government contractors|date=June 2013|access-date=February 14, 2014}}</ref> Leidos ranked 292 on the 2017 Fortune 500 list.<ref name="fortune.com"/>


==Subsidiaries==
==Subsidiaries==
Line 120: Line 73:
*''Leidos UK'' (Leidos Innovations UK Ltd, Leidos Europe Ltd, Leidos Supply Ltd & Leidos Ltd), wholly owned subsidiary, specializing in managed IT Services, developing of bespoke products. Produces, supports & maintains the Chroma Airport Suite, also responsible for the MOD's Supply Chain.
*''Leidos UK'' (Leidos Innovations UK Ltd, Leidos Europe Ltd, Leidos Supply Ltd & Leidos Ltd), wholly owned subsidiary, specializing in managed IT Services, developing of bespoke products. Produces, supports & maintains the Chroma Airport Suite, also responsible for the MOD's Supply Chain.
*''Leidos Engineering'', LLC, formerly ''SAIC Energy, Environment & Infrastructure LLC'', assembles the legacy of engineering capabilities of ''Benham Investment Holdings'', LLC, [[R. W. Beck, Inc.|R. W. Beck Group, Inc.]],<ref>{{cite web | title=R. W. Beck Is Now SAIC Energy, Environment & Infrastructure, LLC | url=http://www2.saic.com/announcement/r-w-beck-now-saic-energy-environment-infrastructure-llc | access-date=March 25, 2013 | archive-url=https://web.archive.org/web/20130404103152/http://www.saic.com/announcement/r-w-beck-now-saic-energy-environment-infrastructure-llc | archive-date=April 4, 2013 | url-status=dead }}</ref> and ''Patrick Energy Services''.
*''Leidos Engineering'', LLC, formerly ''SAIC Energy, Environment & Infrastructure LLC'', assembles the legacy of engineering capabilities of ''Benham Investment Holdings'', LLC, [[R. W. Beck, Inc.|R. W. Beck Group, Inc.]],<ref>{{cite web | title=R. W. Beck Is Now SAIC Energy, Environment & Infrastructure, LLC | url=http://www2.saic.com/announcement/r-w-beck-now-saic-energy-environment-infrastructure-llc | access-date=March 25, 2013 | archive-url=https://web.archive.org/web/20130404103152/http://www.saic.com/announcement/r-w-beck-now-saic-energy-environment-infrastructure-llc | archive-date=April 4, 2013 | url-status=dead }}</ref> and ''Patrick Energy Services''.
*''QTC Management, Inc.'', acquired by merging with Lockheed Martin IS&GS.
*''Leidos QTC Health Services'' (formerly QTC Management), acquired by merging with Lockheed Martin IS&GS.
*''Systems Made Simple (SMS)'', acquired by merging with Lockheed Martin IS&GS.
*''Systems Made Simple (SMS)'', acquired by merging with Lockheed Martin IS&GS.


=== Former subsidiaries ===
=== Former subsidiaries ===


AMSEC LLC, a business partnership between SAIC and [[Northrop Grumman]] subsidiary [[Northrop Grumman Newport News|Newport News Shipbuilding]] divested on July 13, 2007.{{Citation needed|date=May 2008}} [[Network Solutions]] was acquired by SAIC in 1995,<ref>{{cite web|title=Science Applications International Corporation vs. Comptroller of the Treasury|url=http://www.txcrt.state.md.us/decisions/pdf/saic.pdf|publisher=txcrt.state.md.us|access-date=April 17, 2008|archive-url=https://web.archive.org/web/20080528103010/http://www.txcrt.state.md.us/decisions/pdf/saic.pdf|archive-date=May 28, 2008|url-status=dead}}</ref> and subsequently was acquired by [[VeriSign]], Inc. for $21 billion.<ref name="NetsolHis">{{cite web|title=Company History |url=http://about-networksolutions.com/corporate-history.php |publisher=networksolutions.com |access-date=March 29, 2008 |url-status=dead |archive-url=https://web.archive.org/web/20160312130145/http://about-networksolutions.com/corporate-history.php |archive-date=March 12, 2016 }}</ref>''Leidos Cyber, Inc.'', formerly Lockheed Martin Industrial Defender, acquired by merging with Lockheed Martin IS&GS, was sold to Capgemini in 2018.<ref>{{Cite web|url=https://washingtontechnology.com/articles/2019/02/21/leidos-cyber-sale-closed.aspx|title=Leidos closes sale of commercial cyber business -|last=Wilkers|first=Ross|website=Washington Technology|language=en-US|access-date=2020-02-20}}</ref>
AMSEC LLC, a business partnership between SAIC and [[Northrop Grumman]] subsidiary [[Northrop Grumman Newport News|Newport News Shipbuilding]] divested on July 13, 2007.{{Citation needed|date=May 2008}} [[Network Solutions]] was acquired by SAIC in 1995,<ref>{{cite web|title=Science Applications International Corporation vs. Comptroller of the Treasury|url=http://www.txcrt.state.md.us/decisions/pdf/saic.pdf|publisher=txcrt.state.md.us|access-date=April 17, 2008|archive-url=https://web.archive.org/web/20080528103010/http://www.txcrt.state.md.us/decisions/pdf/saic.pdf|archive-date=May 28, 2008|url-status=dead}}</ref> and subsequently was acquired by [[VeriSign]], Inc. for $21 billion.<ref name="NetsolHis">{{cite web|title=Company History |url=http://about-networksolutions.com/corporate-history.php |publisher=networksolutions.com |access-date=March 29, 2008 |url-status=dead |archive-url=https://web.archive.org/web/20160312130145/http://about-networksolutions.com/corporate-history.php |archive-date=March 12, 2016 }}</ref>''Leidos Cyber, Inc.'', formerly Lockheed Martin Industrial Defender, acquired by merging with Lockheed Martin IS&GS, was sold to Capgemini in 2018.<ref>{{Cite web|url=https://washingtontechnology.com/articles/2019/02/21/leidos-cyber-sale-closed.aspx|title=Leidos closes sale of commercial cyber business -|last=Wilkers|first=Ross|website=Washington Technology|date=February 21, 2019 |language=en-US|access-date=2020-02-20}}</ref>


== Controversies ==
== Controversies ==
Line 181: Line 134:
[[Category:International information technology consulting firms]]
[[Category:International information technology consulting firms]]
[[Category:2006 initial public offerings]]
[[Category:2006 initial public offerings]]
[[Category:Love Canal]]

Latest revision as of 03:11, 1 November 2024

Leidos Holdings, Inc.
Company typePublic
IndustryNational security, defense, healthcare, engineering
Predecessor
Founded
FounderJ. Robert "Bob" Beyster
HeadquartersReston, Virginia, U.S.
Key people
Thomas Bell (CEO)
RevenueIncrease US$15.4 billion (2023)
Decrease US$621 million (2023)
Decrease US$208 million (2023)
Total assetsDecrease US$12.7 billion (2023)
Total equityDecrease US$4.26 billion (2023)
Number of employees
~47,000 (2023)
Websiteleidos.com
Footnotes / references
[1][2][3][4][5]

Leidos Holdings, Inc. is an American defense, aviation, information technology, and biomedical research company headquartered in Reston, Virginia, that provides scientific, engineering, systems integration, and technical services. Founded as Science Applications International Corporation (SAIC),[6] Leidos merged with Lockheed Martin's IT sector, Information Systems & Global Solutions (Lockheed Martin IS&GS), in August 2016 to create the defense industry’s largest IT services provider. The Leidos-Lockheed Martin merger is one of the biggest transactions thus far in the consolidation of the defense sector. Leidos contracts extensively with the Department of Defense, the Department of Homeland Security, and the Intelligence Community, as well as other U.S. government agencies and select commercial markets.

History

[edit]

As SAIC

[edit]
SAIC company logo (2010)

The company was founded by J. Robert "Bob" Beyster in 1969 in the La Jolla neighborhood of San Diego, California, as Science Applications Incorporated (SAI).[6][7] Beyster, a former scientist for the Westinghouse Atomic Power Division[8] and Los Alamos National Laboratory,[9] who became the chairman of the Accelerator Physics Department of General Atomics in 1957,[10] raised the money to start SAI by selling stock he had received from General Atomics, combined with funds raised from the early employees who bought stock in the young enterprise.[11]

Initially, the company's focus was on projects for the U.S. government related to nuclear power and weapons effects study programs. The company was renamed Science Applications International Corporation (SAIC) as it expanded its operations. Major projects during Beyster's tenure included work on radiation therapy for the Los Alamos National Laboratory; technical support and management assistance to the development of the cruise missile in the 1970s; the cleanups of the Three Mile Island Nuclear Generating Station after its major accident, and of the contaminated community of Love Canal; design and performance evaluation of the Stars & Stripes 87, the winning ship for the 1987 America's Cup; and the design of the first luggage inspection machine to pass new Federal Aviation Administration tests following the terrorist bombing of Pan American flight 103 over Lockerbie, Scotland.[12]

Contrary to traditional business models, Beyster originally designed SAIC as an employee-owned company.[6][7] This shared ownership was accompanied by shared responsibility and freedom in business development, and allowed SAIC to attract and retain highly educated and motivated employees that helped the company to grow and diversify. After Beyster's retirement in 2003, SAIC conducted an initial public offering of common stock on October 17, 2006.[13] The offering of 86,250,000 shares of common stock was priced at $15.00 per share. The underwriters, Bear Stearns and Morgan Stanley, exercised overallotment options, resulting in 11.25 million shares. The IPO raised US$1.245 billion.[13] Even then, employee shares retained a privileged status, having ten times the voting power per share over common stock.[14]

In September 2009 SAIC relocated its corporate headquarters to their existing facilities in Tysons Corner in unincorporated Fairfax County, Virginia, near McLean.[15]

In 2012 SAIC was ordered to pay $550 million to the City of New York for overbilling the city over a period of seven years on the CityTime contract.[16] In 2014 Gerard Denault, SAIC's CityTime program manager, and his government contact were sentenced to 20 years in prison for fraud and bribery related to that contract.[17]

As Leidos

[edit]

In August 2012, SAIC announced its plans to split into two publicly traded companies.[18][19] The company spun off about a third of its business, forming an approximately $4 billion-per-year service company focused on government services, including systems engineering, technical assistance, financial analysis, and program office support. The remaining part became a $7 billion-per-year IT company specializing in technology for the national security, health, and engineering sectors. The smaller company was led by Tony Moraco, who beforehand was leading SAIC's Intelligence, Surveillance and Reconnaissance group, and the bigger one was led by John P. Jumper.[20] The split has allowed both companies to pursue more business, which it could not pursue as a single company which would have resulted in conflicts of interest.[21] In February 2013, it was announced that the smaller spin-off company would get the name "Science Applications International Corporation" and stay in the current headquarters, while the larger company would change its name to Leidos,[22] (created by clipping the word kaleidoscope) and would move its headquarters to Reston, Virginia.[23] The split was structured in a way that SAIC changed its name to Leidos, then spun off the new SAIC as a separate publicly traded company. However, Leidos is the legal successor of the original SAIC and retains SAIC's pre-2013 stock price and corporate filing history.[24]

Before the split, Leidos employed 39,600 employees and reported $11.17 billion in revenue and $525 million net income for its fiscal year ended January 31, 2013,[25] making it number 240[26] on the Fortune 500 list. In 2014, Leidos reported US$5.06 billion in revenue.[3]

In August 2016, the deal to merge with the entirety of Lockheed Martin's Information Systems & Global Solutions (IS&GS) business came to a close, more than doubling the size of Leidos and its portfolio, and positioning the company as the global defense industry's largest enterprise in the federal technology sector.[27]

In January 2020, Leidos purchased defense contractor Dynetics for approximately $1.65 billion.[28][29][30] In May 2020 it purchased the Security Detection and Automation Systems division of L3Harris (notable for providing the detection screeners that all airport travelers pass through when flying).[31]

As of December 2023, the company has 47,000 employees. In 2023, Leidos reported US$15.4 billion in revenue.[32] It ranked 266 on the 2024 Fortune 500 list.[33]

Structure

[edit]

Leidos has four central divisions: Civil, Health, Advanced Solutions, and Defense & Intelligence. The Civil Division focuses on integrating aviation systems, securing transportation measures, modernizing IT infrastructure, and engineering energy efficiently. The Health Division focuses on optimizing medical enterprises, securing private medical data, and improving collection and data entry methods. The Advanced Solutions Division is centered around data analysis, integrating advanced defense and intelligence systems, and increasing surveillance and reconnaissance efficiency. The Defense & Intelligence Division focuses on providing air service systems, geospatial analysis, cybersecurity, intelligence analysis, and supporting operations efforts.[34]

Management

[edit]

Retired Air Force general John P. Jumper was appointed CEO in 2012, and he oversaw the restructuring of SAIC into SAIC and Leidos.[35] On July 1, 2014, Leidos announced that Roger Krone would become its CEO on July 14, 2014.[36] On February 27, 2023, Leidos announced the appointment of Thomas Bell as Chief Executive Officer starting on May 3, 2023.[37]

Subsidiaries

[edit]
  • Dynetics, Inc., a wholly owned subsidiary of Leidos since Jan 2020.[38]
  • Leidos Biomedical Research, Inc., formerly SAIC - Frederick, a wholly owned subsidiary of Leidos manages Frederick National Laboratory for Cancer Research.[39]
  • Gibbs & Cox, a wholly owned subsidiary of Leidos since May 7, 2021.[40]
  • MEDPROTECT, LLC supports US government health-payer organizations[39]
  • Reveal, develops dual-energy X-ray computed tomography systems for explosives-detection at airports and similar facilities[41]
  • CloudShield Technologies a wholly owned subsidiary, specializing in cyber-security
  • Varec, Inc., liquid petroleum asset management company
  • Leidos Health
  • Leidos Canada, formerly SAIC Canada, wholly owned subsidiary, works with Canadian government.[39]
  • Leidos Australia (Leidos Pty Ltd), wholly owned subsidiary, specializing in document technologies and cyber-security.[39] Produces TeraText software.
  • Leidos UK (Leidos Innovations UK Ltd, Leidos Europe Ltd, Leidos Supply Ltd & Leidos Ltd), wholly owned subsidiary, specializing in managed IT Services, developing of bespoke products. Produces, supports & maintains the Chroma Airport Suite, also responsible for the MOD's Supply Chain.
  • Leidos Engineering, LLC, formerly SAIC Energy, Environment & Infrastructure LLC, assembles the legacy of engineering capabilities of Benham Investment Holdings, LLC, R. W. Beck Group, Inc.,[42] and Patrick Energy Services.
  • Leidos QTC Health Services (formerly QTC Management), acquired by merging with Lockheed Martin IS&GS.
  • Systems Made Simple (SMS), acquired by merging with Lockheed Martin IS&GS.

Former subsidiaries

[edit]

AMSEC LLC, a business partnership between SAIC and Northrop Grumman subsidiary Newport News Shipbuilding divested on July 13, 2007.[citation needed] Network Solutions was acquired by SAIC in 1995,[43] and subsequently was acquired by VeriSign, Inc. for $21 billion.[44]Leidos Cyber, Inc., formerly Lockheed Martin Industrial Defender, acquired by merging with Lockheed Martin IS&GS, was sold to Capgemini in 2018.[45]

Controversies

[edit]

As SAIC

[edit]

Then-SAIC had as part of its management and on its board of directors, many well-known ex-government personnel including Melvin Laird, Secretary of Defense in the Nixon administration; William Perry, Secretary of Defense for Bill Clinton; John M. Deutch, Director of Central Intelligence under President Clinton; Admiral Bobby Ray Inman who served in various capacities in the National Security Agency (NSA) and Central Intelligence Agency (CIA) for the Ford, Carter and Reagan administrations; and David Kay who led the search for weapons of mass destruction after the 1991 Gulf War and served under the Bush administration after the 2003 invasion of Iraq. In 2022, 30 out of 38 Leidos Inc. lobbyists previously held government jobs.[46][47]

In June 2001, the Federal Bureau of Investigation (FBI) paid SAIC US$122 million to create a Virtual Case File (VCF) software system to speed up the sharing of information among agents. But the FBI abandoned VCF when it failed to function adequately. Robert Mueller, FBI Director, testified to a congressional committee, "When SAIC delivered the first product in December 2003 we immediately identified a number of deficiencies – 17 at the outset. That soon cascaded to 50 or more and ultimately to 400 problems with that software ... We were indeed disappointed."[48]

In 2005, then-SAIC executive vice president Arnold L. Punaro claimed that the company had "fully conformed to the contract we have and gave the taxpayers real value for their money." He blamed the FBI for the initial problems, saying the agency had a parade of program managers and demanded too many design changes. He stated that during 15 months that SAIC worked on the program, 19 different government managers were involved and 36 contract modifications were ordered.[49] "There were an average of 1.3 changes every day from the FBI, for a total of 399 changes during the period," Punaro said.[50]

In 2011–2012, then-SAIC was among the 8 top contributors to federal candidates, parties, and outside groups with US$1,209,611 (equivalent to $1,605,334 in 2023) during the 2011–2012 election cycle according to information from the Federal Election Commission. The top candidate recipient was Barack Obama.[46]

As Leidos

[edit]

In a heavily redacted report dated January 3, 2018, the Inspector General for the Department of Defense determined that a supervisor at Leidos made “inappropriate sexual and racial comments to” a female contractor, and that when she complained of a hostile work environment, Leidos retaliated by excluding her from further work on an additional contract.[51] The report found that Leidos's claim that the contract employee “exhibited poor performance throughout her employment" lacked supporting evidence. It recommended that U.S. Secretary of Defense Jim Mattis “consider appropriate action against Leidos” such as “compensatory damages, including back pay, employee benefits and other terms and conditions of employment” that the contractor would have received under the additional contract.

In 2018, Leidos donated to the Senate campaign of Cindy Hyde-Smith. However, after a video was released showing Hyde-Smith speaking fondly of participating in "public hangings", Leidos said the company would never have made the donation if it had known about the comment. During Hyde-Smith's 2020 re-election bid, Leidos again donated to her.[52]

See also

[edit]

References

[edit]
  1. ^ "Leidos Holdings, Inc. 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 13, 2024.
  2. ^ Aitoro, Jill R. (September 27, 2013). "What to expect from Leidos and SAIC when they start trading Sept. 30". American City Business Journals.
  3. ^ a b Aitoro, Jill R. (September 27, 2013). "Exclusive: John Jumper explains why the Leidos-SAIC split had to happen". American City Business Journals.
  4. ^ "www.leidos.com". Retrieved September 29, 2013.
  5. ^ "SAIC, Inc.'s Board of Directors Approves Spin-Off of its Services Business". September 9, 2013. Retrieved September 29, 2013.
  6. ^ a b Dr. J. Robert Beyster with Peter Economy, The SAIC Solution: How We Built an $8 Billion Employee-Owned Technology Company, John Wiley & Sons (2007) p.xiii
  7. ^ a b Glass, Jon W. (April 3, 2007). "SAIC creator's book touts employee ownership". The Virginian-Pilot. Retrieved November 27, 2014. Beyster, 82, retired as SAIC's chairman in July 2004. A nuclear physicist by training and a self-described "evangelist" for employee-owned companies, Beyster said he wrote the book to provide entrepreneurs and business executives a model. He wrote it with Peter Economy, an author or co-author of several business books.
  8. ^ "SAIC, Leidos founder dead at 90". Federal News Network. December 23, 2014.
  9. ^ report, Daily Transcript staff (December 23, 2014). "SAIC founder J. Robert Beyster dies at age 90". The Daily Transcript.
  10. ^ "The Solutions Man". Archived from the original on December 23, 2014. Retrieved June 16, 2018.
  11. ^ "SAIC founder J. Robert Beyster dies". San Diego Union-Tribune. December 23, 2014.
  12. ^ "Our History". Leidos. Retrieved June 16, 2018.
  13. ^ a b SAIC - News & Media - "SAIC, Inc. Announces Closing of Initial Public Offering" Archived October 9, 2007, at the Wayback Machine. Investors.saic.com. Retrieved on August 17, 2013.
  14. ^ Bigelow, Bruce V (September 2, 2005). "Long owned by employees, SAIC says it's going public". San Diego Union-Tribune. Retrieved June 16, 2018.
  15. ^ "SAIC Moves Corporate Headquarters to McLean, Virginia" Archived October 1, 2009, at the Wayback Machine
  16. ^ Paul McDougall (March 15, 2012). "SAIC Pays $500 Million In Record Settlement With NYC". InformationWeek. Retrieved September 25, 2013.
  17. ^ Calder, Rich (April 29, 2014). "CityTime head, accomplices sentenced to 20 years in prison". New York Post. Retrieved May 14, 2014.
  18. ^ Censer, Marjorie (August 30, 2012). "SAIC to split into two public companies". Washington Post. Retrieved March 4, 2013.
  19. ^ "SAIC, Inc. (SAI) to Spin Off Services Business". streetinsider.com. September 9, 2013. Retrieved September 9, 2013.
  20. ^ Censer, Marjorie (November 5, 2012). "When SAIC splits, Jumper and Moraco will head companies". Washington Post. Retrieved April 15, 2014.
  21. ^ Censer, Marjorie (March 3, 2013). "SAIC to name technology business Leidos". Washington Post. Retrieved March 4, 2013.
  22. ^ Censer, Marjorie (February 25, 2013). "SAIC to name solutions business Leidos". Washington Post. Retrieved March 4, 2013.
  23. ^ SAIC (August 12, 2013). "Leidos Headquarters To Be In Reston, VA" (Press release). PR Newswire. Retrieved August 15, 2013.
  24. ^ SEC Edgar database
  25. ^ Science Applications International Corporation. "Fiscal Year 2013 annual report on Form 10-K" (PDF). Archived from the original (PDF) on October 2, 2013. Retrieved August 9, 2013.
  26. ^ SAIC. "Industry Rankings". Archived from the original on August 2, 2013. Retrieved August 9, 2013.
  27. ^ "Leidos Deal Closes, Spawning Vast Solutions Enterprise". Forbes. Retrieved August 23, 2016.
  28. ^ "Leidos completes acquisition of Dynetics, expanding company's portfolio with new offerings and technical capabilities" (Press release). Leidos. January 31, 2020. Retrieved February 1, 2020.
  29. ^ Thompson, Loren. "Leidos Discovers Its Business Model Adapts Surprisingly Well To Coronavirus". Forbes. Retrieved April 24, 2020.
  30. ^ Pound, Jesse (March 7, 2020). "Analysts say the coronavirus outbreak won't hurt the stock that Stifel calls 'The Terminator'". CNBC. Retrieved April 24, 2020.
  31. ^ "Leidos Completes Acquisition of L3Harris Technologies' Security Detection and Automation Businesses Creating a Comprehensive, Global Security and Detection Portfolio".
  32. ^ "Leidos Holdings, Inc. Reports Fourth Quarter and Fiscal Year 2023 Results". www.investors.leidos.com. February 13, 2024. Retrieved September 10, 2024.
  33. ^ "Fortune 500 Full List (2024)".
  34. ^ "Defense & Intelligence". Leidos. Retrieved June 24, 2017.
  35. ^ Censer, Marjorie (August 30, 2012). "SAIC to split into two public companies". The Washington Post. Archived from the original on October 4, 2013. Retrieved January 8, 2013.
  36. ^ "Leidos Announces Roger A. Krone As CEO". wspa.com. July 1, 2014. Retrieved July 1, 2014.
  37. ^ "Leidos selects Thomas Bell as incoming CEO" (Press release). Leidos. February 27, 2023.
  38. ^ "Leidos Subsidiaries". Leidos. Retrieved February 8, 2020.
  39. ^ a b c d "Companies". Leidos. Retrieved February 24, 2014.
  40. ^ "Leidos completes acquisition of Gibbs & Cox". Gibb & Cox. May 7, 2021. Retrieved May 7, 2021.
  41. ^ "Reveal CT-800 Baggage Inspection System". Retrieved December 19, 2013.
  42. ^ "R. W. Beck Is Now SAIC Energy, Environment & Infrastructure, LLC". Archived from the original on April 4, 2013. Retrieved March 25, 2013.
  43. ^ "Science Applications International Corporation vs. Comptroller of the Treasury" (PDF). txcrt.state.md.us. Archived from the original (PDF) on May 28, 2008. Retrieved April 17, 2008.
  44. ^ "Company History". networksolutions.com. Archived from the original on March 12, 2016. Retrieved March 29, 2008.
  45. ^ Wilkers, Ross (February 21, 2019). "Leidos closes sale of commercial cyber business -". Washington Technology. Retrieved February 20, 2020.
  46. ^ a b "Summary: Leidos Inc". Organizations / Summary. OpenSecrets. 2 June 2022. Archived from the original on 22 January 2022. Retrieved 2 June 2022.
  47. ^ "Client Profile: Leidos Inc". Influence & Lobbying / Lobbying / Clients. OpenSecrets. 22 April 2022. Archived from the original on 2 June 2022. Retrieved 2 June 2022.
  48. ^ "FEDERAL BUREAU OF INVESTIGATION'S INFORMATION TECHNOLOGY MODERNIZATION PROGRAM, TRILOGY". Retrieved February 14, 2019.
  49. ^ "Robert S. Mueller, III, Director of FBI Appropriations Subcommittee on Commerce, Justice, State and the Judicial". FBI. February 3, 2005. Retrieved February 22, 2014.
  50. ^ Cantlupe, Joe (3 February 2005). "SAIC Says FBI Should Deploy its Software". The San Diego Union-Tribune. ISSN 1063-102X. Archived from the original on 8 March 2005. Retrieved 2 June 2022.
  51. ^ Capaccio, Anthony (May 2, 2018). "Leidos's Treatment of Female Whistle-Blower Gets Pentagon Review". Bloomberg News. Retrieved June 17, 2018.
  52. ^ "Company that denounced Hyde-Smith's 'public hanging' comment writes her last-minute check". Mississippi Today. October 31, 2020. Retrieved November 3, 2020.

Further reading

[edit]
[edit]
Wikimedia Commons has media related to Leidos.
  • Official website
  • Business data for Leidos:
Retrieved from "https://en.wikipedia.org/w/index.php?title=Leidos&oldid=1254672757"