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Leidos and Sky Solutions launch Purple Sky joint venture to accelerate federal digital transformation

1. Leidos and Sky Solutions formed a JV called Purple Sky, LLC. 2. Purple Sky aims to modernize services for federal health agencies. 3. The venture focuses on AI, cloud, and cybersecurity solutions. 4. Accessibility through the GSA schedule enhances implementation for agencies. 5. Leidos reported $16.7 billion annual revenues in fiscal year 2025.

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FAQ

Why Bullish?

The joint venture will enable Leidos to capture more government contracts, bolstering revenue, similar to past partnerships that drove growth. Enhanced efficiency from modern technologies can also appeal to priority government contracts, which often lead to increased stock valuation.

How important is it?

The joint venture represents a significant corporate strategy shift that has potential for long-term revenue impact. Government contracts can be lucrative, hence the anticipated boost in performance and stability.

Why Long Term?

The joint venture's success in upgrading federal services will take time to reflect in earnings, similar to prior ventures where tangible benefits emerged after initial setup phases.

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, /PRNewswire/ -- Leidos (NYSE:LDOS) and Sky Solutions recently formed Purple Sky, LLC, a joint venture focused on helping federal health agencies deliver better outcomes for people using government services.Purple Sky's customer priorities include delivering advanced digital services to help federal agencies upgrade technology, improve access to data, and strengthen mission outcomes, especially in health, human services, and benefits delivery. Its approach is designed to help agencies to operate more quickly, with fewer errors, and build public trust.   Purple Sky wordmark and logo of a purple cloud "Our goal is to help government agencies modernize with confidence by combining innovation with the security, scale and reliability the federal mission demands," said Milad Bahrami, senior vice president of Health Solutions at Leidos. The joint venture will leverage both companies' expertise in cloud, AI, and cybersecurity while combining the proven experience Leidos has deploying large-scale technology solutions with Sky Solutions' strengths in low-code/no-code platform development to help federal customers meet their missions on time and on budget."This partnership is about solving real-world problems," said Anil Boinapalli, CEO of Sky Solutions. "The name Purple Sky reflects our shared commitment to collaboration and unity, bringing together our strengths to deliver secure, scalable solutions that help agencies and the communities they serve."Agencies can access these solutions through the General Services Administration multiple award schedule, making it easier to implement modern technology like AI, cloud systems and automated processes.About Purple SkyPurple Sky, LLC, is a joint venture between Leidos and Sky Solutions under the SBA Mentor-Protégé program. As a certified SBA 8(a) small business, it combines Leidos' experience with Sky Solutions' expertise in cloud, AI, and cybersecurity. Purple Sky helps federal agencies modernize technology, improve services and meet mission goals through secure, scalable solutions accessible via the GSA Multiple Award Schedule. For more information, visit www.purplesky.com.About Sky Solutions Sky Solutions is a digital technology firm focused on helping clients modernize their systems through AI, cloud technology and cybersecurity. Specializing in services such as artificial intelligence (AI)/machine learning (ML), agile development and low-code/no-code applications, Sky Solutions helps organizations reduce timelines, improve outcomes and stay ahead of evolving cybersecurity threats. The firm's experts support public sector agencies and commercial enterprises in government, financial services and healthcare. For more information, visit www.skysolutions.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 47,000 global employees, Leidos reported annual revenues of approximately $16.7 billion for the fiscal year ended January 3, 2025. For more information, visit www.Leidos.com.      Certain statements in this announcement constitute "forward-looking statements" within the meaning of the rules and regulations of the U.S. Securities and Exchange Commission (SEC). These statements are based on management's current beliefs and expectations and are subject to significant risks and uncertainties. These statements are not guarantees of future results or occurrences. A number of factors could cause our actual results, performance, achievements, or industry results to be different from the results, performance, or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, the "Risk Factors" set forth in Leidos' Annual Report on Form 10-K for the fiscal year ended January 3, 2025, and other such filings that Leidos makes with the SEC from time to time. Readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Leidos does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made. Contact: Brandon Ver Velde (571) 526-6257  [email protected]   SOURCE Leidos Holdings, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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