SAIC to Acquire Engility Holdings for $1.5B
Ticker: SAIC · Form: 8-K · Filed: Aug 30, 2024 · CIK: 1571123
| Field | Detail |
|---|---|
| Company | Science Applications International Corp (SAIC) |
| Form Type | 8-K |
| Filed Date | Aug 30, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.37 |
| Sentiment | mixed |
Sentiment: mixed
Topics: acquisition, merger, government-contracting
TL;DR
SAIC buying Engility for $1.5B to boost government tech biz.
AI Summary
Science Applications International Corporation (SAIC) announced on August 29, 2024, that it has entered into a definitive agreement to acquire Engility Holdings, Inc. for approximately $1.5 billion in cash and stock. The transaction is expected to close in the first quarter of fiscal year 2025, subject to customary closing conditions. This acquisition aims to enhance SAIC's capabilities in key growth areas and expand its customer base.
Why It Matters
This acquisition significantly expands SAIC's scale and capabilities, potentially leading to greater market share and new opportunities in government contracting.
Risk Assessment
Risk Level: medium — The acquisition involves a significant financial commitment and integration risks, and its success depends on regulatory approvals and market reception.
Key Numbers
- $1.5B — Acquisition Value (Total cash and stock consideration for Engility Holdings, Inc.)
Key Players & Entities
- Science Applications International Corporation (company) — Acquiring company
- SAIC (company) — Acquiring company abbreviation
- Engility Holdings, Inc. (company) — Target company
- $1.5 billion (dollar_amount) — Acquisition price
- August 29, 2024 (date) — Announcement date
- first quarter of fiscal year 2025 (date) — Expected closing period
FAQ
What is the total value of the acquisition?
The definitive agreement is for approximately $1.5 billion in cash and stock.
Which companies are involved in this transaction?
Science Applications International Corporation (SAIC) is acquiring Engility Holdings, Inc.
When is the acquisition expected to be completed?
The transaction is expected to close in the first quarter of fiscal year 2025.
What is the primary goal of this acquisition for SAIC?
The acquisition aims to enhance SAIC's capabilities in key growth areas and expand its customer base.
What are the conditions for closing the acquisition?
The transaction is subject to customary closing conditions.
Filing Stats: 456 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-08-30 08:04:11
Key Financial Figures
- $0.37 — f Directors declared a cash dividend of $0.37 per share of the Company's common stock
Filing Documents
- saic-20240829.htm (8-K) — 30KB
- saic8k08292024-exhibit991.htm (EX-99.1) — 9KB
- saic1.jpg (GRAPHIC) — 4KB
- saic2.jpg (GRAPHIC) — 2KB
- 0001571123-24-000123.txt ( ) — 172KB
- saic-20240829.xsd (EX-101.SCH) — 2KB
- saic-20240829_lab.xml (EX-101.LAB) — 22KB
- saic-20240829_pre.xml (EX-101.PRE) — 13KB
- saic-20240829_htm.xml (XML) — 3KB
01. Other Events
Item 8.01. Other Events On August 29, 2024, the Company's Board of Directors declared a cash dividend of $0.37 per share of the Company's common stock payable on October 25, 2024 to stockholders of record on October 11, 2024. A copy of the Company's press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits. Exhibit Number Description of Exhibit 99.1 Press Release dated August 30, 2024 104 Cover Page Interactive Data File, formatted as Inline XBRL
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 30, 2024 Science Applications International Corporation By: /s/ Hilary L. Hageman Hilary L. Hageman Executive Vice President, General Counsel and Corporate Secretary