SAIC closes $1.2B deal to acquire Unisys Federal
The deal adds 2,000 employees to SAIC.
Reston-based government and defense technology contractor Science Applications International Corp. (SAIC) completed its acquisition of Reston-based federal government information technology services contractor Unisys Federal on March 13 for $1.2 billion in cash, the company announced Monday.
The acquisition was first announced Feb. 6 and brings Unisys Federal’s cloud migration, among other services, to SAIC and adds approximately 2,000 employees to the company. The transaction was approved by SAIC’s board of directors, and the transaction was originally expected to close by May 1.
Unisys Federal was an operating unit of Blue Bell, Pennsylvania-based Unisys. The company provides infrastructure modernization, cloud migration and other IT services to the federal government. SAIC provides cloud services, software and advanced analytics to the federal government. Its clients include the Department of Defense and federal civilian agencies.
“This is an exciting time for our company as we continue on our transformative journey to become the leading IT modernization provider to the U.S. government,” SAIC CEO Nazzic Keene said in a statement. “We are thrilled to welcome approximately 2,000 new colleagues to SAIC.”
Guggenheim Securities LLC and Citigroup Global Markets Inc. financially advised SAIC during the transaction, and Atlanta-based King & Spalding LLP provided legal counsel.
SAIC employs approximately 24,000 people and has pro forma annual revenues of roughly $7.1 billion.