Exelis [XLS] on Tuesday said its Mission Systems division that it is preparing for spin-off into a publicly traded military and government services company will be named Vectrus.
Vectrus is derived from two words, Vector and Trust. The stock ticker symbol and logo for Vectrus are still being worked out.
“While the brand will be new to the market, the experience Vectrus team will continue to build on a legacy of delivering infrastructure asset management, logistics and supply chain management services, as well as information technology and network communication services, to U.S. government customers worldwide,” Dave Melcher, president and CEO of Exelis, said in a statement.
Vectrus will begin with about $1.5 billion in sales and 7,000 employees.
The pending spin-off will allow Exelis to focus on its four strategic growth platforms: critical networks, ISR and analytics, electronic warfare, and aerostructures.