Photo courtesy of SAIC
A large information technology company in Northern Virginia has acquired a nearby competitor in a deal valued at more than $2 billion.
Reston-based Science Applications International Corp. (SAIC) announced on Monday plans to acquire Engility Holdings Inc., which is based in Chantilly. The two publicly traded companies have agreed to an all-stock transaction worth $2.5 billion, according to an SAIC press release.
“The highly complementary portfolios, combined with our similar cultures, operating models, and histories, make this transaction a compelling combination,” SAIC’s CEO Tony Moraco said in a stateent. “We look forward to welcoming the Engility team into SAIC, as together we create a market leader in government services with more than 23,000 employees.”
