General Dynamics
and
Anteon International Corporationhave entered into a definitive agreement for General Dynamics to acquire Anteon for $55.50 in cash for each outstanding Anteon share.
The cost of the transaction would be approximately $2.2 billion, including the assumption of Anteon’s $100 million of net debt.
The proposed acquisition, which has been approved by the boards of directors of both companies, would be immediately accretive to General Dynamics’ earnings. Subject to an affirmative vote by Anteon shareholders and normal regulatory approvals, the transaction is expected to close by the end of the second quarter of 2006.
Anteon, headquartered in Fairfax, Virginia., has approx. 9,500 employees in more than 100 offices worldwide. The company has a current business backlog of $6.6 billion and anticipates 2006 sales of $1.72 billion.
“This superb company significantly strengthens the ability of our Information Systems and Technology group to provide a broad menu of seamless information technology (IT) services to Defense, Intelligence and Homeland Security customers,” commented Nicholas D. Chabraja, General Dynamics chairman and CEO.
Anteon is systems integration company that provides mission, operational and IT enterprise support to the
government. It designs, integrates, maintains and upgrades systems for national defense, intelligence, emergency response, infrastructure and other government missions.
Oxa launches autonomous Ford E-Transit for van and minibus modes
I'd like to know where these are operating in the UK. The report is notably light on this. I wonder why?