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Leonardo DRS and RADA Agree to All-Stock Merger, Combining Top Defense Technology Companies into Leader in Advanced Sensing and Force Protection

The collective capabilities will strengthen the company into a market leader in advanced sensing and force protection. Aligned to many of the fastest growing segments of the U.S. and international defense markets, it will shape the future of the battlefield for the U.S. military and its allies across all domains.

Disclaimer:   DRS will file with the U.S. Securities and Exchange Commission (SEC) a registration statement on Form S-4, which will include a prospectus of DRS, and certain other documents in connection with the transaction. SHAREHOLDERS OF RADA ARE URGED TO READ THE PROSPECTUS AND ANY OTHER DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT DRS, RADA, THE TRANSACTION AND RELATED MATTERS. The registration statement and prospectus and other documents filed or furnished by DRS and RADA with the SEC, when filed, will be available free of charge at the SEC’s website at www.sec.gov. Alternatively, stockholders will be able to obtain free copies of the registration statement, prospectus and other documents which will be filed or furnished with the SEC by DRS by contacting DRS at +1 877-538-0912 or 2345 Crystal Drive Suite 1000 Arlington, Virginia 22202.  Communications on this website shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to appropriate registration or qualification under the securities laws of such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.  Communications on this website do not constitute an offer of securities pursuant to the Israeli Securities Law, 1968, or a recommendation regarding the purchase of securities of RADA or DRS.

Company Overview

Leonardo DRS is a leading provider of defense products and technologies that provide battlefield superiority today while shaping the battlefield of tomorrow for the U.S. military and our allies abroad. We offer a broad portfolio of technologies, products and services in our core markets including advanced sensing, network computing, force protection, and electrical power conversion and propulsion. We believe these technologies will not only support our customers in today’s mission but will also underpin their strategy to migrate towards more autonomous, dynamic, interconnected, and multi-domain capabilities needed to win in tomorrow’s battlefield. We expect that the US DoD’s focus on effectively countering the growing pacing threat from China and the acute threat from Russia while simultaneously pursuing a counterterrorism strategy against asymmetrical organizations and actors will increase its reliance on the core technologies that DRS provides, reinforcing our position in our high growth markets.

Our overall strategy includes being a balanced and diversified company, with a specific focus on establishing strong technical and market positions in areas of priority for the Department of Defense (“DoD”). The US DoD is our largest customer and for the three months ended March 31, 2022, accounted for approximately 85% of our business as an end-user, with revenues principally derived directly or indirectly from contracts with the U.S. Army and U.S. Navy, which represented 33% and 36%, respectively, of our total revenues, which is consistent with historic trends.

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Our operations and reporting are structured into the following two technology driven segments based on the capabilities and solutions offered to our customers:

Advanced Sensing and Computing (“ASC”): Our Advanced Sensing and Computing segment is organized to provide equipment that enables the capture and communication of value battlefield information necessary to ensure our armed forces are equipped with real-time intelligence required to deliver enhanced decision making and execution in theater. From leading long-range sensing capabilities, to rugged, trusted, and cyber resilient networked computing, our ASC products provide our customers with the ability to be successful in their mission. Our ASC segment provides ground vehicle systems including third generation infrared, long-range threat detection, situational awareness, and targeting. Our sensing technologies also support aircraft survivability through advanced two-color infrared missile warning sensors and our quantum cascade lasers which protect aircraft from missile attacks. In addition to our optical sensing systems, we utilize state of the art technology in Electronic Warfare (EW) and cyber systems to provide our customers integrated capabilities for multi-domain operations. Our mounted and dismounted EW systems and intelligence solutions across a broad range of platforms bring world-class capability to our customers. Our sensing capabilities are complemented by our network computing and communications products. We are the leading global supplier of battle management systems and mounted computing hardware for ground forces worldwide. For the U.S. and allied naval customers, we provide naval computing systems and network equipment, shipboard communications, radar, surface ship and submarine combat and command and control systems.

Integrated Mission Systems (“IMS”): Our Integrated Mission Systems segment consists of both land and naval component and integrated systems. The IMS segment provides critical force protection, vehicle integration, transportation and logistics and electrical control, distribution and conversion, and ship propulsion components and systems to the U.S. and allied forces. Our force protection systems provide protection for our service members and military assets from proliferating and evolving threats including advanced solutions for counter-unmanned aerial systems, short-range air defense systems and active protection systems on ground vehicles. We provide power conversion and propulsion products for the U.S. Navy’s top priority shipbuilding programs, building on our legacy of providing power components and systems for nearly naval combat vessels for three decades, positioning us to continue as a leading provider of electrical ship propulsion systems and components for the U.S. Navy.

Results & Reports

Date
Form
Filing Description
Downloads
2022 Q1 10-Q Quarterly Report    PDF    XBRL
2021 Q3 10-Q Quarterly Report    PDF    XBRL
2021 Q2 10-Q Quarterly Report    PDF    XBRL
2021 Q1 10-Q/A Quarterly Report    PDF    XBRL
2021 Q1 10-Q Quarterly Report    PDF    XBRL
Date
Form
Filing Description
Downloads
December 31, 2021 10-K Annual Report    PDF    XBRL
Date
Form
Filing Description
Downloads
June 21, 2022 8-K Current Report    PDF    XBRL
March 31, 2022 8-K/A Current Report    PDF    XBRL
March 24, 2022 8-K Current Report    PDF    XBRL
March 24, 2022 8-K Current Report    PDF    XBRL
December 12, 2021 8-K Current Report    PDF    XBRL
July 6, 2021 8-K Current Report    PDF    XBRL
June 11, 2021 POS AM Post-Effective amendments for registration statement    PDF    XBRL
June11, 2021 8-K Current Report    PDF    XBRL
April 26, 2021 8-K Current Report    PDF    XBRL
March 23, 2021 EFFECT Notice of Effectiveness    PDF    XBRL
March 22, 2021 S-1/A General form for registration of securities    PDF    XBRL
March 19, 2021 CORRESP Correspondance    PDF    XBRL
March 19, 2021 CORRESP Correspondance    PDF    XBRL
March 15, 2021 S-1/A General form for registration of securities    PDF    XBRL
March 9, 2021 S-1/A General form for registration of securities    PDF    XBRL
February 26, 2021 S-1 General form for registration of securities    PDF    XBRL
February 12, 2021 DRS/A Draft Registration Statement - amendment    PDF    XBRL
February 12, 2021 DRSLTR Correspondence Related to Draft Registration Statement    PDF    XBRL
January 6, 2021 UPLOAD Correspondence Letter    PDF  
December 10, 2020 DRS Draft registration statement    PDF    XBRL
Year
Date
Description
Downloads
2022 21-Jun Leonardo DRS and RADA Electronic Merger
Conference Call
   Listen to the webcast
2022 21-Jun Leonardo DRS and RADA Electronic Merger Presentation    Download the presentation
Our Segments

Leading provider of defense technologies across two segments for our customers in every military domain.

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ESG Information

At Leonardo DRS, we are committed to giving back to the military, their families, our employees, our local communities, and the environment.

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