Exelis To Vectrus – Exelis Selects Name For Spinoff

The excitement level was high when Exelis (XLS) announced that it would create a new ‘brand’ for its upcoming military and government services spinoff. To better understand why, lets jump back a few years and remember how the name Exelis came about:

ITT Exelis is an energetic name that is derived from the word “excel,” which is rooted in “ex,” meaning “out in front” or “beyond.” The name ITT Exelis signifies the expeditionary spirit, exceptional foresight and strong commitment to proactively anticipating and adapting solutions to our customers’ most critical problems.

BS Marketing at its finest. Suffice it to say that expectations were high and Exelis did not disappoint as the company named its spinoff Vectrus. What? You’ve never heard of a Vectrus before? Don’t worry, the company explains:

Vectrus is a blended name derived from the words Vector and Trust. Vector represents strong forward direction, while Trust represents the essence of the new company’s commitment to its customers.

Vector and Trust. Of course! Defense Industry Daily snarkily speculates that the company went with Vectrus because “Tructor” was ‘already taken by the bastard child of a truck and a tractor.’ Good to know that we aren’t the only cynics out there.

For some more substantive information on the new company, check out our earlier post and the recently released Form 10 filing. With a new name, a Form 10 filed and a management team picked out, the spinoff is certainly going in a ‘strong forward direction’. The spinoff is expected to be completed sometime this summer and we will keep you updated as the company releases new information.

Disclosure: Author holds no position in any stock mentioned