RESTON, Va., March 22, 2022 (Leonardo DRS PR) — Leonardo DRS Inc., announced today it has signed a definitive agreement to sell its Global Enterprise Solutions (GES) business to SES for $450 million. The transaction has been approved by the boards of directors of Leonardo and of SES. Finalization of the deal is targeted for the second half of 2022 subject to regulatory approvals.
“The DRS GES business is well-respected by its customers and within the satellite communications (SATCOM) provider services market, and we are very pleased with the agreement reached with SES,” said Bill Lynn, CEO of Leonardo DRS. “While the DRS GES business has flourished, Leonardo DRS has shifted its portfolio focus, and selling it now makes the most business sense,” he said.(more…)