CSC, Veritas finalize DynCorp deal
- By Nick Wakeman
- Feb 18, 2005
Computer Sciences Corp. completed its $850 million divestiture of DynCorp International, DynMarine and selected DynCorp Technical Services contracts to Veritas Capital Inc. of New York.
When the closing-date working capital has been finalized, CSC gets an additional block of preferred stock, not to exceed $75 million.
Veritas gets a business that pulled in $1.6 billion in 2004 and has 14,500 employees. The acquisition is Veritas' second foray into government services. In July, it acquired McNeil Technologies Inc., Springfield, Va.
Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.