Leidos has completed its previously announced transaction with Altaris, LLC to form a new joint venture. The JV combines Leidos's Security Enterprise Solutions and Industrial Automation businesses with Analogic Corporation, an Altaris portfolio company, creating a scaled security screening technology provider. Leidos will retain a significant minority ownership stake in the new entity, which will operate under the Analogic brand.
Key Details
- Transaction Structure: Leidos contributed its Security Enterprise Solutions and Industrial Automation (SES/IA) businesses to the new joint venture, named Nickel JV Ultimate Parent, LLC.
- Ownership & Governance: Leidos received a 41.5% minority equity stake in the JV. Altaris holds the remaining 58.5% and will appoint a majority of the JV's board of directors, retaining majority voting control.
- Timeline: The transaction, originally announced on April 14, 2026, was officially consummated on October 5, 2026.