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Leonardo DRS to Acquire Raft for $450 Million

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Leonardo DRS (DRS) said Tuesday it has agreed to acquire Raft, a provider of open-architecture mission software for national security, in an all-cash transaction valued at $450 million.

Leonardo said it expects to realize a tax benefit over the next 15 years as a result of the transaction, the present value of which is about $50 million.

The acquisition is expected to be accretive to adjusted earnings per share in the first full year of ownership, the company said.

The transaction is expected to close in Q4, subject to regulatory approvals and customary closing conditions.

Price: $48.61, Change: $+0.16, Percent Change: +0.33%

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