Amentum Holdings (AMTM) Receives $360M Following Rapid Solutions Divestment

Amentum Holdings, Inc. (NYSE:AMTM) is one of the 15 successful spin-off companies. On June 27, the global leader in advanced engineering and innovative technology reaffirmed its status as a pure-play provider of technology solutions.

The company announced the divestment of its Rapid Solution unit to Lockheed Martin. As part of the transaction, Amentum is to receive $360 million in cash. The unit that the company sold accounted for 1% of total revenue and adjusted EBITDA. It specializes in manufacturing products aligned with national security missions.

Amentum came into being following its merger with Jacob’s Critical Mission Solutions and Cyber & Intelligence Government Services Businesses. The merger resulted in the creation of a pure-play government technology Solutions Company focused on addressing the world’s most complex and critical challenges.

Amentum Holdings Inc. (NYSE:AMTM) has established itself as a provider of advanced engineering and technology solutions. It supports the United States and its allies by addressing complex challenges in science, security, and sustainability.

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Disclosure: None. This article is originally published at Insider Monkey.