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M&A Activity

General Dynamics Closes $9.7B CSRA Purchase

General Dynamics (NYSE: GD) has concluded its approximately $9.7 billion acquisition of CSRA (NYSE: CSRA) in a push to establish a combined government information technology services contractor. CSRA will operate as part of General Dynamics’ IT business and will stop trading on the New York Stock Exchange as a result of …

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On Assignment Changes Name to ASGN as $775M ECS Federal Buy Closes

On Assignment concurrently wrapped up its $775 million purchase of Fairfax, Virginia-based information technology services provider ECS Federal and adopted the name ASGN Inc. (NYSE: ASGN) to reflect the combined entity’s business. The companies first announced the transaction in January and ASGN said Monday ECS will continue its operations under the same brand …

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CACI Drops Acquisition Bid for CSRA; Ken Asbury Comments

CACI International (NYSE: CACI) has withdrawn its bid to purchase CSRA (NYSE: CSRA) for $44.00 per share in cash and stock, or approximately $7.2 billion. “We will continue our aggressive pursuit of strategic opportunities, judiciously and without engaging in auctions at uneconomic levels,” CACI CEO Ken Asbury said in a statement …

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Thales Initiates All-Cash Offer to Acquire Gemalto

Thales has launched an all-cash offer to acquire all shares of Gemalto for approximately $63.2 per share plus dividend under a merger agreement announced in December 2017. “The publication of the offer document is the first major step of the proposed acquisition of Gemalto,” Patrice Caine, Thales chairman and CEO, …

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Elbit Systems Gets Govt Clearances for Universal Avionics Acquisition

Elbit Systems (Nasdaq: ESLT) has secured the necessary government clearances to acquire Tucson, Arizona-based Universal Avionics Systems Corp. through an asset acquisition transaction. Israel-based Elbit Systems said Thursday it expects to complete the purchase in the “coming weeks.” Universal Avionics manufactures avionics systems for military and commercial helicopters, transport planes and turboprop aircraft. …

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General Dynamics Raises Offer to Acquire CSRA

General Dynamics (NYSE: GD) has increased the value of its proposal to acquire CSRA (NYSE: CSRA) from $40.75 per share to $41.25 per share, or approximately $6.9 billion in cash, under an amended merger agreement. General Dynamics said Tuesday it will also assume $2.8 billion in net debt from the …

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TransDigm to Buy Aerospace & Defense Services Firm Extant for $525M

TransDigm Group (NYSE: TDG) has agreed to purchase Melbourne, Florida-based Extant Components Group Holdings from investment firm Warburg Pincus for approximately $525 million. Cleveland-based TransDigm said Monday it plans to finance the deal with cash on hand and funds under a revolving credit facility. Extant offers aftermarket-focused electronics, avionics and electromechanical products to the …

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CACI Offers $7.2B Cash & Stock for CSRA

CACI International (NYSE: CACI) has offered to acquire CSRA (NYSE: 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. Arlington, Virginia-based CACI said Sunday its board …

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KeyW Completes Sotera Integration, Reports Rise in FY 2017 Revenue

Bill Weber, president and CEO of KeyW (Nasdaq: KEYW), has said the company has completed integration efforts with regard to its purchase of Herndon, Virginia-based national security technology contractor Sotera Defense Solutions. KeyW closed its $235 million cash acquisition of Sotera in April 2017 in an effort to expand its footprint in …

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Proposed DXC USPS-Vencore-KeyPoint Merger to Operate as Perspecta; Mac Curtis Comments

The new company that will emerge from the proposed merger of DXC Technology (NYSE: DXC) U.S. public sector business with Vencore and KeyPoint Government Solutions will operate under the Perspecta name upon the transaction’s closure. Mac Curtis, president and CEO of Vencore, will serve as CEO of Perspecta that is expected …

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