General Dynamics to acquire Vangent Inc.
- August 17, 2011
Falls Church-based General Dynamics plans to acquire the parent company of Arlington-based Vangent Inc. in a cash deal worth $960 million.
Vangent, which is majority-owned by The Veritas Capital Fund III, provides health-care information-technology and business systems to federal agencies. The company will become part of Fairfax-based General Dynamics Information Technology.
The acquisition, approved by the board of directors of both companies, is expected to close by Oct.1.
Jay L. Johnson, the chairman and CEO of General Dynamics, said Vangent will add depth and breadth to General Dynamics’ health-care IT operations.
Vangent, which has more than 7,500 employees, primarily supports the U.S. Departments of Health and Human Services, Education, Labor, State and Defense. The company’s core offerings include health informatics and information exchange, electronic health records and data analytics, as well as business-process outsourcing solutions.