Analogic & Leidos Security Enterprise Solutions Announce Intent to Combine Under Analogic Leadership

New York, NY (April 15, 2026) - Analogic Corporation ("Analogic") and Leidos, Inc. (NYSE: LDOS) ("Leidos") today announced a definitive agreement to create a global security imaging and detection company through the combination of Analogic with Leidos' Security Enterprise Solutions, Ports & Borders and Industrial Automation businesses ("SES"). The transaction is expected to close in the second half of 2026, subject to customary closing conditions and regulatory approvals. Upon closing, the combined business will operate under the Analogic brand as a privately held company, led by Analogic's current Chief Executive Officer, Tom Ripp.

Read more at www.analogic.com/news-events/.

Advisors

Kirkland & Ellis LLP and Hinckley Allen & Snyder LLP acted as legal advisors to Analogic, along with Ernst & Young LLP as accounting advisor. Leidos retained PJT Partners as financial advisor, Fried, Frank, Harris, Shriver & Jacobson LLP and DLA Piper as legal advisors and KPMG as accounting advisor in connection with the transaction.

About Altaris

Altaris is an investment firm with an exclusive focus on acquiring and building companies in the healthcare industry. Since its inception in 2003, Altaris has invested in more than 50 companies across a range of healthcare subsectors, with a consistent goal of delivering value to the healthcare system and generating attractive financial returns for investors. Altaris is headquartered in New York City and manages $9+ billion of equity capital. For more information, please visit www.altariscap.com.

About Analogic

Analogic, headquartered in Salem, NH, is a global leader in design, development, manufacturing and support of technically advanced and cost-effective imaging & detection and power technology solutions for aviation security, healthcare, and other high-end industrial markets. For more information, please visit www.analogic.com.

About Leidos

Leidos is an industry and technology leader serving government and commercial customers with smarter, more efficient digital and mission innovations. Headquartered in Reston, Virginia, with approximately 50,000 global employees, Leidos reported annual revenues of approximately $17.2 billion for the fiscal year ended January 2, 2026. For more information, visit www.leidos.com.