CACI confirms plans to acquire government services division for $550 million
Arlington-based CACI International Inc. confirmed Tuesday plans to acquire Reston-based L-3 National Security Solutions Inc. (L-3 NSS) for $550 million.
CACI International said in a news release it has signed an agreement to acquire L-3 NSS, the government services division of L-3 Communications. The deal, subject to regulatory approvals, is expected to close by March.
The acquisition is expected to add about $1 billion of annual revenue to CACI.
“This transaction adds depth and breadth to our intelligence, cyber, and C4 solutions and services to meet our nation’s evolving and most critical national security challenges,” Ken Asbury, CACI president and CEO, said in a statement.
CACI will finance the transaction through a combination of term and revolving debt.
L-3 NSS employs approximately 4,000 people.
CACI is a defense contractor with more than 16,300 employees. It has 120 offices around the world.