Engility Closes TASC Purchase

acquisitionEngility Holdings (NYSE: EGL) has closed its $1.3 billion all-stock purchase of TASC to create a company with more than 10, 000 employees and approximately $2.5 billion in revenue based on 2014 figures, the companies said Thursday.

Engility expects the transaction to increase its earnings per share starting in 2016 after adjustments for amortization of acquired intangibles and cash taxes.

The companies said Engility now holds more than 2, 000 contracts and task orders as a result of the acquisition and will have nearly 47 percent of its revenue base from the defense market.

An even split of revenue in the intelligence and federal civilian markets will represent the remaining 53 percent of revenue, the companies said.

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