RESTON, Va., May 4, 2020 /PRNewswire/ -- Leidos (NYSE:LDOS), a FORTUNE® 500 science and technology leader, today announced a teaming agreement with Paramount Group USA and Vertex Aerospace to pursue a new contract to deliver the Bronco II, a new purpose-built, multi-mission aircraft. The aircraft will support the U.S. Special Operations Command's Armed Overwatch program.
This strategic relationship, with Leidos as the prime contractor and Paramount and Vertex as primary teammates, will combine decades of experience integrating, manufacturing, and delivering cutting-edge airborne solutions to the warfighter.
The Bronco II is a rugged, affordable, and sustainable multi-mission aircraft that will be manufactured in Crestview, Fla. The Leidos offering is built to meet the specific needs of U.S. Special Operations Command.
"Leidos has a long history as a premier provider of airborne solutions," said Gerry Fasano, Leidos Defense Group president. "The Bronco II demonstrates our commitment to providing the best-of-breed in technology, as well as our agility in meeting the needs of our country's national security missions. This offering will leverage each company's expertise to deliver cost-effective innovations for the warfighter."
"Our collaboration with Vertex and Leidos will present best of capabilities for what will undoubtedly be a critical program to enable U.S Air Force Special Operations Command to deal effectively with the challenges and rigors of modern day asymmetrical warfare," said Steve Griessel, CEO of Paramount Group USA. "The Bronco II was designed specifically for asymmetrical warfare and will operate at a fraction of the procurement and lifecycle costs of an aircraft with similar mission applications and capabilities."
"We are proud to team with Leidos and Paramount, as we share a commitment to deliver affordable state-of-the-art capabilities to combat the challenges posed by modern, multi-domain operations," said Ed Boyington, Vertex Aerospace CEO and President. "With a long track record of delivering excellence to our customers, we look forward to producing and supporting the purpose-built Bronco II aircraft and weapons system as a transformational tool for our warfighters."
About Paramount Group USA
Headquartered in Dallas-Ft. Worth, Paramount Group US Inc. is the U.S. entity of the Paramount Group, the global aerospace and technology company, providing fully integrated and turn-key air, maritime, and land solutions. Paramount Group USA is also the parent company of Paramount Aerospace Systems USA, its wholly-owned US subsidiary. Since its inception in 1994, Paramount Group has built strong relationships with governments in more than 30 countries around the world. It is a leading innovator in the design and development of state-of-the-art technologies that it manufactures in locations globally. Please visit http://www.paramountgroup.com/usa or follow us on Twitter.
Vertex Aerospace offers a global capability and complete solution for aftermarket aerospace services for government and commercial customers. The Company's international presence and vast range of services has distinguished itself from competitors for over 45 years. The Mississippi-based company operates in over 100 locations worldwide and is proud to have a 50 percent veteran employee rate. Information about Vertex can be found at vtxaero.com.
Leidos is a Fortune 500® information technology, engineering, and science solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, homeland security, civil, and health markets. The company's 36,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Va., Leidos reported annual revenues of approximately $11.09 billion for the fiscal year ended January 3, 2020. For more information, visit www.Leidos.com.
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in the company's Annual Report on Form 10-K for the period ended January 3, 2020, and other such filings that Leidos makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.