70.4 F
Washington D.C.
Thursday, November 7, 2024

General Dynamics Completes Acquisition of CSRA

General Dynamics (NYSE: GD) has completed its acquisition of CSRA Inc. (NYSE: CSRA). The transaction, valued at approximately $9.7 billion, is expected to be accretive to GAAP earnings per share and to free cash flow per share in 2019, and is expected to generate estimated annual pre-tax cost savings of approximately 2 percent of the combined company’s revenue by 2020.

CSRA is now part of General Dynamics Information Technology. This combination creates a premier provider of high-tech IT solutions to the government IT market.

“The combined CSRA and GDIT offers innovative, competitive and compelling solutions to our customers, and provides attractive free cash flow coupled with good incremental return on capital for investors,” said Phebe Novakovic, chairman and chief executive officer of General Dynamics. “GDIT is positioned to deliver cost-effective, next-generation IT solutions and services to the Department of Defense, the intelligence community and federal civilian agencies as they modernize their information systems.”

As a result of the closing of the acquisition, General Dynamics intends to cause all shares of CSRA common stock to be delisted from the NYSE, and CSRA will no longer have reporting obligations under the Securities Exchange Act of 1934.

Homeland Security Today
Homeland Security Todayhttp://www.hstoday.us
The Government Technology & Services Coalition's Homeland Security Today (HSToday) is the premier news and information resource for the homeland security community, dedicated to elevating the discussions and insights that can support a safe and secure nation. A non-profit magazine and media platform, HSToday provides readers with the whole story, placing facts and comments in context to inform debate and drive realistic solutions to some of the nation’s most vexing security challenges.

Related Articles

- Advertisement -

Latest Articles