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You are at:Home»News»Information Technology»SAIC to Buy Engility in $2.5B Deal
Information Technology

SAIC to Buy Engility in $2.5B Deal

By WashingtonExec Staff WriterSeptember 10, 2018
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Lynn Dugle, Engility
Lynn Dugle, Engility

Science Applications International Corp. plans to acquire rival Engility Holdings Inc. for $1.5 billion in stock, creating one of largest independent technology integrators in government services with over 23,000 employees.

Under the deal, SAIC assumes $900 million of Engility’s debt, which makes the transaction worth about $2.5 billion. The merger is expected to close by Feb. 1, 2019.

The merged company will keep the SAIC name and retain its headquarters in Reston, Virginia. After closing, SAIC CEO Tony Moraco will remain in his current role and as an SAIC board member. The board will also add two members from Engility’s board of directors.

The expansion of the capabilities of both companies “will have the capacity and differentiated solutions that can best meet our customers’ demands and take advantage of improved market conditions,” said Engility Chairman, CEO and President Lynn Dugle.

“The drive for scale accelerates as the consolidation of the Government Technology Services sector continues,” said Bob Kipps, managing director at KippsDeSanto & Co. “Like all deals, the hard work and value creation effort is just starting as these two large enterprises seek the financial and business synergy potential from their added scale and capabilities.”

Related: Engility Moves into Definitive Agreement to Acquire TASC

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