Exelis successfully completes spin-off of Vectrus, Inc.
Exelis has completed the previously announced separation of its former mission systems government services business into a new independent, publicly traded company, Vectrus, Inc.
The spin-off has been structured to qualify as a tax-free distribution to Exelis shareholders for U.S. federal tax purposes, except for cash received in lieu of fractional shares.
Exelis will continue as a leader in command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) related products, networks and systems, and retain a portfolio of affordable, mission critical and platform-agnostic products and services for managing global threats, conflicts and complexities.
Following the spin-off, Exelis will focus its investments on strengthening four strategic growth platforms — critical networks, ISR and analytics, electronic warfare and aerostructures. Vectrus will leverage its global presence and long history in the government services market to deliver infrastructure asset management, information technology and network communication services, and logistics and supply chain management to a wide range of customers.