The government services market is set to go through another large-scale reshaping as two of the sector’s most notable players said this week that they would combine forces.
Engility will pay $1.1 billion in stock for TASC, whose current owners will hold a 51-percent ownership stake in the combined company upon the transaction’s closure, which is scheduled for the first quarter of 2015.
Both companies — whose headquarters are based approximately three miles apart from each other in Chantilly, Virginia — have undertaken this move in an environment where government and industry have seen increased budget pressures in the technical and professional services area.
Craig Reed, SVP for strategy and corporate development at Engility, described what he called the “transformational” nature of the deal for both companies and the sector at large exclusively to GovCon Wire shortly after the acquisition was announced.
Click here to read GovCon Wire’s coverage from Tuesday for Reed’s perspective and to review all of the details from the transaction.
Government spending in the post-sequestration era will be the main point of discussion at the Potomac Officers Club’s next event — the “FY 15 Budget & Procurement” summit Nov. 19.
Leaders from the worlds of government, industry and academia will give the GovCon executive audience perspectives and insight how the sector should navigate this evolving budget environment.
We are also excited to announce National Intelligence Director James Clapper as the keynote speaker for POC’s ‘2015 Intel Summit‘ on Jan. 21.
Click here to register and reserve your seat at these and more upcoming POC events.
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