mergers and acquisitions

General Dynamics_CSRACongratulations to our long-time client, General Dynamics on their recent acquisition of CSRA Inc. After months of due diligence, analysis and evaluation, on April 3 they announced its completion, valued at approximately $9.7 billion (composed of an all-cash bid of $6.9 billion and assumption of CSRA’s $2.8 billion debt).

With CSRA’s cybersecurity and data-analytics business and information technology contracts, this acquisition makes General Dynamics one of the largest providers of high-tech IT solutions to the government IT market. “We are excited for the opportunities that this presents GDIT,” says Aaron Heffron, president of Market Connections, “The GDIT brand is often touted by the government IT decision makers we survey, and we look forward to seeing how this new acquisition will strengthen their position in the 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.”

See General Dynamics press release.

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