 Lockheed Martin to separate, combine businesses with Leidos Bethesda, Md. (UPI) Jan 26, 2016 -Lockheed Martin has entered into an agreement to separate and combine its Information Systems & Global Solutions business with Leidos Holdings, Inc. The $5 billion transaction includes a one-time $1.8 cash payment to Lockheed Martin, which the company says it plans to use to repay debt, pay dividends, and repurchase its stock. Lockheed Martin stockholders will receive 50.5 percent equity in Leidos, worth approximately $3.2 billion. Leidos' shareholders will hold the remaining 49.5 percent of shares. Lockheed Martin chairman, president, and CEO Marilyn Hewson says the transaction is beneficial for both companies. "This strategic transaction is an important milestone in the portfolio reshaping strategy we announced in July 2015 and allows us to focus on our core business in aerospace and defense," Hewson said in a statement. "The combination of our proven IT and technical services businesses with Leidos will create a new leader in the government IT sector with a diversified portfolio, greater scale and improved efficiency." The agreement, which would create the largest U.S. government services provider, is subject to regulatory approval, and is expected to close in the third or fourth quarter of 2016.
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Jordan will purchase Arlan armored vehicles as part of its recently signed military cooperation agreement with Kazakhstan.
Kazakhstan Paramount Engineering, a joint venture that began business in 2015, has stated the Kingdom of Jordan plans to buy 50 Arlan vehicles, though it has not been disclosed exactly how many were purchased.
In addition to the vehicles, Jordan will also procure 12.7mm guns, night vision sights, and additional equipment. It is not yet known when the equipment is scheduled for delivery.
The Arlan is an armored vehicle designed to transport 10 military personnel with a high level of protection. The vehicle can also be used for armored vehicle fire support operations, or as an anti-missile launcher.
The military cooperation agreement between Kazakhstan and Jordan includes other collaborations. Kazakhstan and Jordan will both participate in the International Exhibition of Arms and Military Equipment, also known as KADEX-2016, where Jordan will serve as the host country.
KADEX-2016 will host defense contractors from around the world, and feature weapons and military equipment. The exhibition will take place in Astana.
"It should be noted, despite the long distances between the two countries, [they have] great potential of development in the economic, military and political cooperation," the Kazakhstan Ministry of Defense wrote in a statement.
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