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US: Government contractor Engility grabs rival for $1B

 |  October 29, 2014

Government and military services contractor Engility announced plans to acquire one of its closest rivals for $1.1 billion.

According to reports, Engility will take over TASC in what reports say is one of the largest government contracting mergers inked this year. The deal is only surpassed by Orbital Science’s plans to merge with Alliant Techsystems.

According to reports, the deal follows a decline in the government contracting industry due to budget cuts. The combination of the rivals is set to create a company with revenue of about $2.5 billion.

Full content: Washington Post

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