The popular vote for the Wash100 continues this week! Voting turn out has been strong since the January 25th launch of the popular vote, and all of us at Executive Mosaic extend our thanks to those who have participated. If you have yet to place your ten votes for the executives that you believe will have the greatest influence on the government contracting landscape over the course of the next year, please visit the Wash100 voting page by April 30th.
The current top five executives are:
In the past month the acquisition of CSRA has been underway. Initially, it seemed apparent that General Dynamics would be purchasing the Falls Church, VA-based government IT services contractor, but in the last week the acquisition of CSRA developed into a bidding war between General Dynamics and CACI International. Here’s a look at the events that transpired between the three companies and where the acquisition process currently stands.
In mid-February, General Dynamics announced that it had agreed to purchase CSRA for approximately $9.6 billion. General Dynamics said that it would pay $40.75 in cash for each share of CSRA stock, amounting to approximately $6.8 billion, and would assume CSRA’s $2.8 billion in debt. Phebe Novakovic, chairman and CEO of General Dynamics and 2018 Wash100 recipient, said that the acquisition would enable General Dynamics’ IT business to expand its capabilities and client base and better provide IT platform services to the intelligence, defense and federal civilian sectors. Larry Prior, president and CEO of CSRA and 2018 Wash100 recipient, said that the combination of General Dynamics’ IT business and CSRA would create an entity “with a full spectrum of enterprise IT capabilities.â€
On March 18th, however, CACI International announced its proposal to acquire CSRA for $44 per share in cash and stock, which comes out to approximately $7.2 billion. In a company press release, CACI said that its board had unanimously voted to go ahead with the acquisition proposal. CACI’s proposal came about a month after General Dynamics’ offer and proposed to purchase CSRA for a greater sum without inheriting the company’s $2.8 billion debt.
A few days after CACI’s bid, General Dynamics increased the value of its proposal, offering to purchase CSRA for $41.25 per share, approximately $6.9 billion in cash, as well as assuming CSRA’s $2.8 billion debt. In a press release from March 20th, General Dynamics noted that its tender offer for CSRA’s shares began on March 5th and that the price increase took effect on March 20th. General Dynamics and CSRA expect to close the deal once the tender offer is completed on April 2nd. Upon completion of the acquisition, General Dynamics will run CSRA as a wholly owned subsidiary.
THIS WEEK’S TOP NEWS STORIES
Weekly Contract Awards This week’s top GovCon contract awards:Â BAE Systems, Black Box, BWX Technologies, Lockheed Martin, Huntington Ingalls Industries, and Vectrus, among others.
CACI Offers $7.2B Cash & Stock for CSRA CACI International has offered to acquire CSRA for approximately $7.2 billion in cash and stock, or $44.00 per share, in a bid to form a combined entity that will deliver mission services and enterprise support offerings to government clients.
Jacobs Lands $778M USSOCOM IT Support Contract; Darren Kraabel Comments Jacobs Engineering Group has received a potential five-year, $778 million contract to provide the U.S. Special Operations Command with information technology enterprise operations and maintenance support services.
Patrick Nicolet Named Capgemini Group CTO
Patrick Nicolet, formerly head of the competitiveness program and India operations at Capgemini, has been appointed as group chief technology officer.
TYSONS CORNER, VA, Oct. 24, 2022 — Verizon (NYSE: VZ) has secured a $1.58 billion task order from the State Department to modernize technology and network infrastructure at U.S. embassies across the globe over a 10-year period, ExecutiveBiz reported. The Enterprise Infrastructure Solutions award also covers information technology services such as network platform implementation and
TYSONS CORNER, VA, Oct. 24, 2022 — Valiant Integrated Services will compete for tasks under a potential five-year, $1.31 billion indefinite delivery/indefinite quantity contract to provide the U.S. Navy and Marine Corps with training system operation and maintenance services, ExecutiveBiz reported. The Fielded Training Systems Support V contract covers training equipment management, operation and relocation;
TYSONS CORNER, VA, Sept. 12, 2022 — ECS will assist the U.S. Transportation Command in the sustainment and modernization of its Global Air Transportation Execution System under a five-year, $53 million recompete contract, ExecutiveBiz reported. The company was tasked to provide Agile software development and to transfer additional GATES software capabilities to the cloud. “It’s
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