Leonardo DRS, formerly DRS Technologies, Inc., is a US-based defense contractor. Previously traded on the NYSE, the company was purchased by the Italian firm Finmeccanica (now Leonardo S.p.A.) in October 2008.
Diagnostic/Retrieval Systems, Inc (DRS) was founded in 1968 by Leonard Newman (whose son, Mark Newman, was the CEO until January 2012) and David Gross, two engineers working for Loral Corporation. The two were working on signal processing techniques for anti-submarine warfare. When Loral chose to pursue other technology, Newman and Gross founded DRS to continue their research, which ultimately led to development of the AN/SQR-17 passive submarine detection system, a product still used today.
DRS went public in 1981 and acquired its first company in 1984. By 1994, DRS set a goal to become a mid-tier defense contractor, defined by $500 million in sales – notwithstanding that DRS at the time had only $58M in sales. Six years later, at the turn of the century, DRS reached the $391 million sales level, and in 2004 surpassed the $1 billion sales mark.[1]
^DRS Connections, May 2007 Special Edition #12 (the company's internal newsletter)
^"50 Years | Leonardo DRS". www.leonardodrs.com. Retrieved 2022-07-02.
^"Leonardo DRS and RADA Agree to All-Stock Merger, Combining Top Defense Technology Companies into Leader in Advanced Sensing and Force Protection | Leonardo DRS". www.leonardodrs.com. Retrieved 2022-07-02.
External links
DRS Technologies, Inc. Corporate Web Site
Washington Technology's Top 100 Federal Prime Contractors
Best for Vets 2012: Employers
January 09, 2023
leonardo, formerly, technologies, based, defense, contractor, previously, traded, nyse, company, purchased, italian, firm, finmeccanica, leonardo, october, 2008, formerlydrs, technologies, typesubsidiary, leonardo, traded, asdrsindustrydefensefounded1968, year. Leonardo DRS formerly DRS Technologies Inc is a US based defense contractor Previously traded on the NYSE the company was purchased by the Italian firm Finmeccanica now Leonardo S p A in October 2008 Leonardo DRSFormerlyDRS Technologies Inc TypeSubsidiary of Leonardo S p A Traded asDRSIndustryDefenseFounded1968 55 years ago 1968 FounderLeonard Newman and David GrossHeadquartersArlington Virginia United StatesKey peopleWilliam J Lynn Chairman amp CEO ParentLeonardo S p A Websiteleonardodrs wbr comThis article relies excessively on references to primary sources Please improve this article by adding secondary or tertiary sources Find sources Leonardo DRS news newspapers books scholar JSTOR October 2022 Learn how and when to remove this template message Contents 1 History 2 Products 2 1 Advanced Trainer 2 2 Drone 3 See also 4 References 5 External linksHistory EditDiagnostic Retrieval Systems Inc DRS was founded in 1968 by Leonard Newman whose son Mark Newman was the CEO until January 2012 and David Gross two engineers working for Loral Corporation The two were working on signal processing techniques for anti submarine warfare When Loral chose to pursue other technology Newman and Gross founded DRS to continue their research which ultimately led to development of the AN SQR 17 passive submarine detection system a product still used today DRS went public in 1981 and acquired its first company in 1984 By 1994 DRS set a goal to become a mid tier defense contractor defined by 500 million in sales notwithstanding that DRS at the time had only 58M in sales Six years later at the turn of the century DRS reached the 391 million sales level and in 2004 surpassed the 1 billion sales mark 1 DRS was acquired by the Italian conglomerate Finmeccanica S p A now Leonardo S p A in 2008 In 2012 former United States Deputy Secretary of Defense William J Lynn III was appointed CEO of Finmeccanica North America DRS replacing Mark Newman who held the position since 1994 2 In June of 2022 Israel based RADA Electronic Industries and Leonardo DRS announced an all stock merger 3 Products EditAdvanced Trainer Edit Leonardo DRS T 100 Integrated Training System M1000 Trailer part of the Heavy Equipment Transport SystemDrone Edit DRS RQ 15 Neptune DRS Sentry HPSee also EditTop 100 US Federal Contractors War economyReferences Edit DRS Connections May 2007 Special Edition 12 the company s internal newsletter 50 Years Leonardo DRS www leonardodrs com Retrieved 2022 07 02 Leonardo DRS and RADA Agree to All Stock Merger Combining Top Defense Technology Companies into Leader in Advanced Sensing and Force Protection Leonardo DRS www leonardodrs com Retrieved 2022 07 02 External links EditDRS Technologies Inc Corporate Web Site Washington Technology s Top 100 Federal Prime Contractors Best for Vets 2012 Employers Retrieved from https en wikipedia org w index php title Leonardo DRS amp oldid 1124650247, wikipedia, wiki, book, books, library,
