General Dynamics completes $9.7 billion acquisition of CSRA Inc.
- April 3, 2018
Falls Church-based General Dynamics has completed its $9.7 billion acquisition of CSRA Inc.
CSRA, also based in Falls Church, is now part of General Dynamics Information Technology (GDIT).
General Dynamics said the combination makes GDIT a premier provider of high-tech IT services in the government IT market.
"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," Phebe Novakovic, chairman and chief executive officer of General Dynamics, said in statement.
General Dynamics raised its initial offer for CSRA after Arlington-based CACI International submitted an unsolicited competing bid for the company.
General Dynamics’ last bid was $41.25 a share in cash. Its original bid was $40.75.
CACI had bid $44 a share in a combination of stock and cash.
CSRA was created in 2015 when Falls Church-based Computer Services Corp. (CSC) combined its North American public-sector business with SRA International.
General Dynamics is an aerospace and defense company with a broad portfolio of products and services for aviation; combat vehicles, weapon systems and munitions; IT solutions; and shipbuilding. The company's 2017 revenue was $31 billion.