Reston-based Science Applications International Corp. has agreed to buy Chantilly-based Engility Holdings in an all-stock deal valued at $2.5 billion, creating what the two call the “second largest independent technology integrator in government services.”
The combination of the two publicly traded companies, SAIC (NYSE: SAIC) announced, will speed up SAIC’s growth into key markets, “enhance its competitive position and provide significant financial benefits,” per a release. It will create a company with 23,000 employees and expanded capabilities in systems engineering, mission and IT.
The deal comes just a few months after news broke that Engility was reportedly being offered for sale, with interest coming from the likes of SAIC and Arlington-based CACI International (NYSE: CACI). Engility declined comment at the time, calling the reports “rumors and speculation.”
“The highly complementary portfolios, combined with our similar cultures, operating models, and histories, make…Read the full story from the Washington Business Journal.