WT Business Beat

By Nick Wakeman

Blog archive
Nick Wakeman

LGS Innovations closes first deal

When I talked to LGS Innovations CEO Kevin Kelly earlier this summer, he laid out the strategy of the company which was spun out of Alcatel-Lucent in 2014.

He talked about investing for growth and for technologies that could bolster the company’s work in networking and communication solutions.

Part of that investment strategy was making mergers and acquisition. At the time, LGS hadn’t closed a deal.

“We’ve probably looked at 100 companies,” Kelly said at the time. “And we had serious management meetings with five or so, and now we are targeting just one or two.”

With the announcement Thursday that they had acquired Axios Inc., it looks like LGS has its target.

Axios develops communications and signal processing solutions and provides mission support services for the Defense Department and intelligence agencies.

The addition of its capabilities compliments to LGS’ work with intelligence, surveillance and reconnaissance technologies by bringing in mission-attached services and applications development, LGS said in a statement.

The company has 120 employees, with more than half holding advanced degrees in electrical engineering, computer engineering and computer science.

“Axios has a high caliber of project performance, corporate culture, and outstanding people,” Kelly said in the statement.

Axios was founded in 2000 and some of its specific capabilities are in areas such as RF communications and signal processing, mission operations, frameworks and open source technology, software defined radio, tactical programs, and other solution areas.

Axios will operate as a wholly owned subsidiary of LGS.

The acquisition is LGS’ first since it was purchased from Alcatel-Lucent by Madison Dearborn Partners and CoVant in 2014. Houlihan Lokey served as the financial advisor to Axios.

Terms of the deal were not disclosed.

Posted by Nick Wakeman on Oct 01, 2015 at 12:44 PM


Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close

Trending

  • Dive into our Contract Award database

    In an exclusive for WT Insider members, we are collecting all of the contract awards we cover into a database that you can sort by contractor, agency, value and other parameters. You can also download it into a spreadsheet. Our databases track awards back to 2013. Read More

  • Navigating the trends and issues of 2016 Nick Wakeman

    In our latest WT Insider Report, we pull together our best advice, insights and reporting on the trends and issues that will shape the market in 2016 and beyond. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.