GD finishes Veridian deal

General Dynamics Corp. completed its acquisition Aug. 11 of Veridian Corp. More than 80 percent of Veridian shareholders approved the sale.

Falls Church, Va.-based General Dynamics paid $35 cash for each outstanding share of Arlington, Va.-based Veridian. With the assumption of Veridian's $263 million of debt, the cost of the transaction is approximately $1.5 billion.

When the deal was announced, Veridian's stock was trading at $27.35. After that, it traded near the offer price. The company, which went public in May 2002, had a 52-week range of $17.50 to $34.99. Veridian was ranked No. 22 on Washington Technology's Top 100 list.

General Dynamics stock traded at $78.90 Aug. 11. The company has a 52-week range of $50 to $88.02. It was ranked No. 7 on the Top 100.

Veridian's four divisions, employing 7,300 people, will become part of two businesses within General Dynamics Information Systems and Technology group.

Veridian's Engineering, Information Solutions and Systems divisions are joining General Dynamics Advanced Information Systems. Veridian's Information Technology Services division is becoming part of General Dynamics Network Systems.

The transaction was first announced June 9. It cleared the mandatory government waiting period July 28.


Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here


  • POWER TRAINING: How to engage your customers

    Don't miss our Aug. 2 Washington Technology Power Training session on Mastering Stakeholder Engagement, where you'll learned the critical skills you need to more fully connect with your customers and win more business. Read More


    In our latest Project 38 Podcast, editor Nick Wakeman interviews Tom Romeo, the leader of Maximus Federal about how it has zoomed up the 2019 Top 100. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.