Close Menu
WashingtonExec
    Podcast Episodes
    LinkedIn Facebook X (Twitter) Instagram YouTube
    LinkedIn Facebook X (Twitter) Instagram YouTube
    WashingtonExec
    Subscribe To The Daily
    • News & Headlines
    • Executive Councils
    • Videos
    • Podcast
    • Events
      • 🏆 Chief Officer Awards
      • 🏆 Pinnacle Awards
    • About
    • Contact Us
    LinkedIn YouTube X (Twitter)
    WashingtonExec
    You are at:Home»News»Mergers & Acquisitions»MAXIMUS to Buy GDIT’s Citizen Engagement Centers for $400M
    Mergers & Acquisitions

    MAXIMUS to Buy GDIT’s Citizen Engagement Centers for $400M

    By Kate WalshOctober 14, 2018
    Share
    LinkedIn Facebook Twitter Email
    Bruce Caswell, MAXIMUS

    Business process service provider MAXIMUS has signed a definitive asset purchase agreement to acquire certain assets of General Dynamics Information Technology’s citizen engagement centers in the U.S. federal civilian market.

    The $400 million all-cash transaction is slated to close in mid-November and is subject to customary closing conditions. The deal is expected to bolster MAXIMUS’ position with some of the largest mission critical federal civilian programs, said Bruce Caswell, MAXIMUS president and CEO.

    “This deal aligns with our MAXIMUS digital modernization strategy and we remain keenly focused on improving the citizen experience for critical government programs while driving long-term innovation to meet evolving program demands,” he said.

    The associated assets included in the asset purchase agreement had revenue of nearly $670 million for the 12 months ended June 2018. This revenue is primarily tied to cost reimbursable contracts and accordingly, operating margins typically average in the mid-single digit range.

    “This widely anticipated transaction is a prudent divestiture for GDIT given its post-CSRA size, strategy and cost structure,” said Bob Kipps, managing director of KippsDeSanto & Co. “That being said, this deal is a great fit and an exciting move — demonstrating more commitment and exposure to the federal market — for MAXIMUS.”

    Previous ArticleFormer GSA Acquisition Exec Joins Deloitte Consulting
    Next Article A Conversation with 2018 GovCon Awards Finalist Doug Duenkel

    Related Posts

    ManTech’s Gavin Greene is Driving Growth with Mission-Focused Purpose

    Raytheon Wins $580M Production Contract for Next-Gen Jammer Mid-Band

    Top Chief Technology Officers to Watch in 2025: Nightwing’s Chris Jones

    Comments are closed.

    LinkedIn Follow Button LinkedIn Logo Follow Us on LinkedIn
    2025 Chief Officer Awards - Finalists
    Latest Industry Leaders

    Top General Counsels & Compliance Execs to Watch in 2025

    Top Space Execs to Watch in 2025

    Load More
    Latest Posts

    ManTech’s Gavin Greene is Driving Growth with Mission-Focused Purpose

    May 18, 2025

    Raytheon Wins $580M Production Contract for Next-Gen Jammer Mid-Band

    May 18, 2025

    Top Chief Technology Officers to Watch in 2025: Nightwing’s Chris Jones

    May 18, 2025

    Koniag Government Services Celebrates 50 Years of Service: Providing Government Solutions through Alaska Native Values

    May 18, 2025

    Top Chief Technology Officers to Watch in 2025: Peraton’s Todd Borkey

    May 18, 2025
    Quick Links
    • Executive Councils & Committees
    • Chief Officer Awards
    • Pinnacle Awards
    • Advertise With Us
    • About WashingtonExec
    • Contact
    Connect
    • LinkedIn
    • YouTube
    • Facebook
    • Twitter

    Subscribe to The Daily

    Connect. Inform. Celebrate.

    Copyright 2023 © WashingtonExec, Inc. | All Rights Reserved. Powered by J Media Group

    Type above and press Enter to search. Press Esc to cancel.