🧾 What This Document Is

This is an 8-K filing with an attached press release (Exhibit 99.1). It's a current report that a public company must file with the SEC to announce a major, specific event to investors. In this case, Leidos is formally announcing the completion of a major acquisition.

🏢 What The Company Does

👉 In simple terms, Leidos is a massive government and commercial IT and engineering contractor. Think of them as a company that builds and runs complex digital and physical systems for clients like the U.S. defense and homeland security agencies. They have about 47,000 employees and reported ~$17.2 billion in annual revenue for their last fiscal year. This acquisition pushes them deeper into a new area: building and modernizing the physical electric grid.

💰 Financial Highlights of The Deal

• Purchase Price: ~ $2.4 billion in cash.
• Target Company: ENTRUST Solutions Group.
• What Leidos Gets: Over 3,100 engineers and professionals and a significant expansion of its customer base among utility companies.

🚀 Key Moves & Strategic Rationale

This isn't just a random purchase; it's a strategic pillar.

• Doubles Down on Energy: The acquisition effectively doubles Leidos' presence in the energy infrastructure market.
• Why Energy? Utilities are facing huge demand to modernize the grid ("grid modernization"), improve reliability, and handle the rising need for power (from data centers, EVs, etc.). Leidos is positioning itself to profit from this trend.
• Quotes from Leadership: Roy Stevens, a Leidos president, said integrating ENTRUST lets them "deliver comprehensive infrastructure solutions" to help secure the grid.
• Part of a Bigger Plan: This move directly supports Leidos' long-term strategy called "NorthStar 2030," which identifies energy infrastructure as a key growth pillar.

📦 What ENTRUST Adds To The Box

ENTRUST isn't a small startup. It's an established firm with:

• 3,100+ professionals across 40+ locations in North America.
• Core Expertise: Engineering, consulting, design, and data solutions specifically for electric grids and natural gas infrastructure.
• The Synergy: Leidos gets instant scale, expertise, and customer relationships it would have taken years to build from scratch.

🧠 The Analogy

Leidos was already a strong player in the "tech and services" side of national security. This acquisition is like a chess move where they've just captured a key piece on a different part of the board—the energy grid. They're not just buying a company; they're buying a whole new front in their business war, positioning themselves to serve the critical infrastructure that powers everything else.

📇 Key Contacts & People

Victor Melara Senior Media Relations Manager Phone: 703.431.4612 Email: [email protected]

🧩 Final Takeaway

Leidos is making a major, multi-billion dollar bet on America's need to upgrade its electric grid. By buying ENTRUST, they instantly become a major player in this space, adding thousands of experts and aligning perfectly with their long-term growth strategy. This signals a significant expansion beyond their traditional government defense work into critical civilian infrastructure.