Science Applications International Corp. (NYSE: SAIC) announced Monday its plans to acquire Engility Holdings Inc. (NYSE: EGL), in a deal valued at $2.5 billion.
If completed, the all-stock transaction will create the second largest independent technology integrator serving government clients.
âThe highly complementary portfolios, combined with our similar cultures, operating models, and histories, make this transaction a compelling combination that enhances the value proposition for our customers, employees and shareholders,â commented Tony Moraco, SAICâs chief executive officer, and a five-time Wash100 winner.
âEngilityâs market-leading expertise inÂ next-generationÂ systems engineering and integration services, particularly among space, federalÂ and intelligence customers,Â will augment SAICâs strong mission, engineering and enterprise ITÂ offerings to create a more comprehensive suite ofÂ capabilitiesÂ serving a broader set of customers,â said Lynn Dugle, Engilityâs chairman, CEO and president, and a two-time Wash100 winner.
SAIC and Engility expect the deal to close by February 1, 2019, the end of the fiscal fourth quarter. The combined company will add two board members from Engilityâs board of directors.