CCS Consults on the Proposed Merger of Analogic Corporation and SES/IA Business of Leidos, Inc.

1.      The Competition and Consumer Commission of Singapore (“CCS”) is inviting public feedback on the proposed merger of Analogic Corporation (“Analogic”) and Leidos Inc’s (“Leidos”) Security Enterprise Solutions, and Industrial and General Automation businesses (“SES/IA Business”) (collectively, the “Parties”) (the “Proposed Transaction”). 

2.      On 14 July 2026, CCS accepted a joint application from the Parties seeking CCS’s decision as to whether their merger would result in a substantial lessening of competition within any market in Singapore. CCS is currently assessing the Proposed Transaction. 

3.      Analogic is controlled by affiliates of Altaris, LLC, a New York-based investment firm in the United States. Analogic provides services in the healthcare, high-end industrial and aviation security sectors globally and in Singapore. It is active in the design, development, manufacturing and support of advanced imaging and detection solutions, as well as power and automation systems. In the aviation security sector, Analogic is only active in (i) cabin baggage explosives detection systems (“EDS”) and (ii) checked baggage EDS. 

4.      Leidos is a science and technology solutions company headquartered in Virginia, United States. Leidos provides scientific engineering, systems integration and technical services to customers in heavily regulated industries, with a primary focus on the national security, defence and health sectors. 

5.      The Parties have submitted that the Proposed Transaction merging Analogic and Leidos’ SES/IA Business results in an overlap in two areas: the global supply of (i) checked baggage EDS (through existing stock of Leidos and stock to be supplied in the future by Analogic); and (ii) cabin baggage EDS, including after-market services, to Singapore (the “Relevant Markets”). 

6.       The Parties also submitted that the Proposed Transaction will not result in any substantial lessening of competition in view of the following: