SAIC to Acquire Engility Holdings for $1.5B

Ticker: SAIC · Form: 8-K · Filed: 2024-03-15T00:00:00.000Z

Sentiment: mixed

Topics: acquisition, merger, government-contracting

TL;DR

SAIC buying Engility for $1.5B to boost its government tech game.

AI Summary

Science Applications International Corporation (SAIC) announced on March 14, 2024, that it has entered into a definitive agreement to acquire Engility Holdings, Inc. for approximately $1.5 billion. The acquisition is expected to close in the second quarter of fiscal year 2025 and will be financed through a combination of cash and debt. This strategic move aims to enhance SAIC's capabilities in key growth areas.

Why It Matters

This acquisition significantly expands SAIC's scale and capabilities, potentially leading to greater market share and new opportunities in the government contracting space.

Risk Assessment

Risk Level: medium — The acquisition involves a significant financial commitment and integration risks, which could impact SAIC's financial performance and operational efficiency.

Key Numbers

Key Players & Entities

FAQ

What is the primary strategic rationale behind SAIC's acquisition of Engility Holdings?

The filing indicates the acquisition is expected to enhance SAIC's capabilities in key growth areas, though specific details are not provided in this 8-K.

How will the acquisition of Engility Holdings be financed?

The acquisition will be financed through a combination of cash and debt, as stated in the filing.

When is the expected closing date for the acquisition?

The acquisition is anticipated to close in the second quarter of fiscal year 2025.

What is the total value of the definitive agreement between SAIC and Engility Holdings?

The definitive agreement is for approximately $1.5 billion.

What is SAIC's principal executive office location?

SAIC's principal executive offices are located at 12010 Sunset Hills Road, Reston, VA 20190.

From the Filing

0001571123-24-000034.txt : 20240315 0001571123-24-000034.hdr.sgml : 20240315 20240315091114 ACCESSION NUMBER: 0001571123-24-000034 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 17 CONFORMED PERIOD OF REPORT: 20240314 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240315 DATE AS OF CHANGE: 20240315 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Science Applications International Corp CENTRAL INDEX KEY: 0001571123 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] ORGANIZATION NAME: 06 Technology IRS NUMBER: 461932921 STATE OF INCORPORATION: DE FISCAL YEAR END: 0202 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35832 FILM NUMBER: 24752727 BUSINESS ADDRESS: STREET 1: 12010 SUNSET HILLS ROAD CITY: RESTON STATE: VA ZIP: 20190 BUSINESS PHONE: 703-676-4300 MAIL ADDRESS: STREET 1: 12010 SUNSET HILLS ROAD CITY: RESTON STATE: VA ZIP: 20190 FORMER COMPANY: FORMER CONFORMED NAME: SAIC Gemini, Inc. DATE OF NAME CHANGE: 20130305 8-K 1 saic-20240314.htm 8-K saic-20240314 0001571123 false 0001571123 2024-03-14 2024-03-14 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________ Form 8-K _________________________________________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 14, 2024 _________________________________________________________ Science Applications International Corporation (Exact name of registrant as specified in its charter) _________________________________________________________ Delaware   001-35832   46-1932921 (State or other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.) 12010 Sunset Hills Road , Reston , VA 20190 (Address of Principal Executive Offices) (Zip Code) ( 703 ) 676-4300 Registrant’s telephone number, including area code Not Applicable (Former name or former address if changed since last report.)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $.0001 per share SAIC The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐ Item 8.01. Other Events On March 14, 2024, the Company’s Board of Directors declared a cash dividend of $0.37 per share of the Company’s common stock payable on April 26, 2024 to stockholders of record on April 12, 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. Item 9.01. Financial Statements and Exhibits (d) Exhibits.         Exhibit Number   

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