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Leidos announces strategic collaboration agreement with Microsoft

Published: 2023-07-31 12:00:00 ET

Companies pledge collaboration aimed at expediting the development of advanced cloud technology.

RESTON, Va., July 31, 2023 /PRNewswire/ -- Leidos (NYSE: LDOS), a FORTUNE® 500 science and technology leader, today announced it has entered into a strategic collaboration agreement with Microsoft aimed at leveraging each company's unique strengths in the market to accelerate artificial intelligence (AI) transformation for new and existing customers in the public sector. A near-term priority for co-development is in the area of generative AI solutions to support organizational efficiency, enhanced productivity and cross domain applications.

"Leidos is continuously exploring opportunities to accelerate solving our customers' hardest problems," said Steve Hull, Executive Vice President, Enterprise and Cyber Solutions Operation, Leidos. "This agreement will help enable co-innovation utilizing the latest cloud and AI technologies."

Leidos recently completed a successful migration of 20 critical support applications from an on-premise data center to Microsoft's Azure Government cloud environment in support of the U.S. Navy. This migration was part of Leidos' ongoing support of the Department of the Navy's Next Generation Enterprise Network (NGEN) Service Management, Integration, and Transport (SMIT) program, enabling the Navy to monitor, maintain, and secure the Navy and Marine Corps Intranet (NMCI) with increased efficiency and collaboration without compromising security.

"Our collaboration with Leidos will help accelerate adoption of cloud-driven solutions to improve our customers' operations," said Angela Heise, Corporate Vice President, Worldwide Public Sector, Microsoft. "Leidos' expertise in national security operations coupled with Microsoft's advanced cloud, cyber, and AI technologies will enable our two organizations to develop innovative solutions to address a wide range of complex challenges faced by public sector organizations around the world."

Leidos and Microsoft are committed to building a partner ecosystem that can identify customer challenges and work together responsibly and efficiently to solve them.

About Leidos

Leidos is a Fortune 500® technology, engineering, and science solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, civil, and health markets. The company's 46,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $14.4 billion for the fiscal year ended December 30, 2022. For more information, visit www.Leidos.com.

Certain statements in this announcement constitute "forward-looking statements" within the meaning of the rules and regulations of the U.S. Securities and Exchange Commission (SEC). These statements are based on management's current beliefs and expectations and are subject to significant risks and uncertainties. These statements are not guarantees of future results or occurrences. A number of factors could cause our actual results, performance, achievements, or industry results to be different from the results, performance, or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, the "Risk Factors" set forth in Leidos' Annual Report on Form 10-K for the fiscal year ended December 30, 2022, and other such filings that Leidos makes with the SEC from time to time. Readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Leidos does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.

Contact: Melissa Dueñas(571) 526-6850Melissa.L.Duenas@leidos.com

Thomas Doheny(571) 474-4735Dohenyt@leidos.com

Brandon VerVelde(571) 526-6257Brandon.p.vervelde@leidos.com

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SOURCE Leidos Holdings, Inc.

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Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.