Engility Corporation, a government technology and business services company based in Chantilly, has announced the completion of its tender offer for shares of Dynamics Research Corp. (DRC).
Engility initially announced plans for the $120 million acquisition on Dec. 23, launching an $11.50-a-share tender offer soon after. The offer expired at midnight then, with about 86 percent of DRC’s shares being validly tendered.
DRC is a government services, IT and management consulting firm with more than 1,100 employees and locations including Arlington, Reston, Washington, D.C. and Columbia, Md.
Engility plans to acquire all of the remaining shares through a short-form merger, expected to close by Jan. 31.
