Press Release
January 31, 2020

Holland & Knight Advises Dynetics in Acquisition by Leidos Holdings

CHICAGO (January 31, 2020) – Holland & Knight represented Dynetics, Inc., a 100 percent ESOP-owned company, in connection with its sale to Leidos Holdings, Inc. The $1.65 billion cash deal closed today.

Dynetics provides responsive, cost-effective engineering, scientific and information technology solutions to the national security, cybersecurity, space and critical infrastructure sectors. Its portfolio features highly specialized technical services and a range of software and hardware products, including components, subsystems and complex end-to-end systems. The company has more than 2,400 employees and is based in Huntsville, Alabama, with offices throughout the United States. It will now operate as a wholly-owned subsidiary of Leidos.

Leidos is a Fortune 500 information technology, engineering, and science solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, homeland security, civil and health markets. Its 34,000 employees support vital missions for government and commercial customers. The company is headquartered in Reston, Virginia.

Jeffries LLC served as exclusive financial advisor to Dynetics in connection with this transaction. Holland & Knight was ERISA and ESOP counsel to the company and King & Spalding was M&A counsel. Partner Elizabeth Perdue and Senior Counsel Louis Joseph were the primary attorneys from Holland & Knight representing Dynetics. Both focus their practices on corporate transactions involving ESOPs.

More information about the transaction can be found here.

Holland & Knight has one of the top ESOP practices in the United States. Its attorneys are nationally recognized and highly skilled in counseling companies, trustees, selling shareholders and lenders on ESOP-related matters and transactions.

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