Engility closes $120M deal for DRC

Engility has closed its $120 million acquisition of Dynamics Research Corp.

The company announced the acquisition in late December 2013.

Founded in 1955, DRC brings system engineering, management consulting and technical assistance services to Engility, with specific market niches including health care, homeland security, research and development, intelligence, surveillance and reconnaissance, financial regulation and reform and defense readiness, logistics and command, control and communications.

Engility paid $11.50 per share for DRC, and a little over 9 million shares were tendered, representing about 86 percent of the outstanding common stock of DRC, Engility reported in a release.