SAIC-Unisys clears last hurdle before closing $1.2B
UPDATE: Early Monday morning, Science Applications International Corp. announced that it had closed its $1.2 billion of Unisys Federal. Click here to read the story.
Science Application International Corp.’s $1.2 billion deal to acquire the federal business from Unisys Corp. cleared its last hurdle late Thursday, opening the way for the deal to close in short order.
The waiting period for the Hart-Scott-Rodino Antitrust Improvement Act expired at one minute to midnight on Thursday. Neither the Federal Trade Commission nor the Justice Department issued a “second request,” meaning they had no antitrust concerns with the acquisition.
SAIC said there are no further conditions that need to be met, before closing the deal. “SAIC and Unisys are working together to close the Transaction promptly,” SAIC said in a statement.
SAIC announced the acquisition on Feb. 6. Unisys Federal brings $689 million in annual revenue and 1,900 people. It also brings a commercial business model for delivering IT to the federal government. This basically means everything as a service, such as cloud computing, cybersecurity, systems integration and application delivery.
As the deal closes, we’ll be offering more analysis of what Unisys Federal brings to SAIC.
Posted by Nick Wakeman on Mar 13, 2020 at 4:37 AM