MAXIMUS signs $400 million deal with General Dynamics Information Technology
Reston-based MAXIMUS Inc., a global government services provider, has agreed to pay $400 million for some assets of General Dynamics Information Technology’s citizen-engagement centers.
MAXIMUS said the deal is expected to strengthen its position in managing federal government programs in U.S.
The all-cash transaction is expected to close in mid-November, subject to customary closing conditions.
MAXIMUS said the deal will give it greater economies of scale while enhancing its technology and adding operational capabilities that will benefit its entire business.The company anticipates that the assets it is acquiring will generate abouit 10.5 months of revenue for its fiscal year 2019 in the range of $575 million to $600 million.
Founded in 1975, MAXIMUS offers business process management and technology solutions.
With more than 20,000 employees worldwide, the company works with government agencies in the United States, Australia, Canada, Saudi Arabia, Singapore and the United Kingdom.