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CHANTILLY, Va., April 23, 2025--(BUSINESS WIRE)--Amentum (NYSE: AMTM) today announced it has entered into a definitive agreement to sell its hardware and product business, Rapid Solutions, to Lockheed Martin (NYSE: LMT) for $360 million in cash. The transaction, which is subject to customary regulatory approvals and closing conditions, will advance Amentum’s strategy as a pure-play provider of technology-enabled solutions and accelerates its debt reduction objectives.
"The divestiture of Rapid Solutions sharpens Amentum’s focus on mission critical services and reinforces our position as a global pure-play provider of advanced engineering and technology-enabled solutions." said Adam Harrison, Senior Vice President of Strategy and Corporate Development.
Rapid Solutions is a manufacturer of products aligned to national security missions. The business, which accounts for approximately 1% of Amentum’s annual Revenues and Adjusted EBITDA, manufactures ISR, advanced communications, and tactical systems to meet the nation’s most critical security challenges. Approximately 230 employees will transition to Lockheed Martin upon close of the sale.
The transaction is expected to close in the second half of 2025 and to generate approximately $325 million in after-tax proceeds. Further information will be provided during Amentum’s Second Quarter Fiscal Year 2025 earnings conference call on May 7, 2025.
About Amentum
Amentum is a global leader in advanced engineering and innovative technology solutions, trusted by the United States and its allies to address their most significant and complex challenges in science, security and sustainability. Our people apply undaunted curiosity, relentless ambition and boundless imagination to challenge convention and drive progress. Our commitments are underpinned by the belief that safety, collaboration and well-being are integral to success. Headquartered in Chantilly, Virginia, we have more than 53,000 employees in approximately 80 countries across all 7 continents.
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Forward-Looking Statement:
This release contains statements that relate to future events and expectations and, as such, constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward-looking statements may be characterized by terminology such as "believe," "project," "expect," "anticipate," "estimate," "forecast," "outlook," "target," "endeavor," "seek," "predict," "intend," "strategy," "plan," "may," "could," "should," "will," "would," "will be," "will continue," "will likely result," or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any statements that address activities, events or developments that Amentum Holdings, Inc. (the "Company") intends, expects, projects, believes or anticipates will or may occur in the future, including, but not limited to, our expectation regarding the realization of after-tax proceeds, our intention in using the proceeds to accelerate debt payments, our expectation regarding our financial guidance, and our expectation regarding the timing of the closing of the transaction.