New Reston tenant Leidos Holdings officially began trading on Monday as a public company.
The $6 billion spinoff from SAIC celebrated its opening with a party at the Reston Town Center pavilion and splashes of signature color purple all around.
Earlier Monday, John Jumper, Chairman and CEO, Stu Shea, President and COO, and other members of the executive leadership team, rang the opening bell at the New York Stock Exchange (NYSE), marking the first day of trading for Leidos shares under the ticker symbol LDOS.
Leidos is a science and technology solutions business that spun off from SAIC.
The Leidos name is taken from 'ka-leidos-cope,' evokes the new company's ability to approach problems from multiple angles to deliver innovative solutions.
"Today we launch Leidos, building on a proud 44-year legacy," said Jumper in a press release. "Leidos is strongly positioned to address evolving customer challenges and enable better performance. This is an exciting day for our people, who apply their talents and passion every day to support the vital missions of government and commercial customers and protect our nation's physical and digital infrastructure."
Shea said: "Leidos is a unique company defined by core competencies in big data analytics, cyber security and engineering, all underpinned by a robust science and technology foundation. Our national security, health and engineering markets increasingly demand integrated, information-based capabilities that make things smart, efficient, sustainable and secure."
Leidos has 23,000 employees worldwide. Its headquarters are located at One and Two Freedom Square at Reston Town Center. More than 600 employees will work in the Reston offices.