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Engility Holdings, Inc. today announced it has completed the acquisition of Dynamics Research Corporation. DRC is a U.S. government services, information technology and management consulting firm with leading capabilities in Healthcare, Homeland Security, Research & Development, Intelligence, Surveillance & Reconnaissance (ISR), Financial Regulation & Reform, Defense Readiness, Logistics and Command, Control & Communications (C3).
Under the terms of the agreement, which was structured as a tender offer followed by a back-end merger, Engility acquired all outstanding shares of DRC s common stock for cash at a price of $11.50 per share and paid approximately $89 million to pay off existing debt, transactions fees and expenses. The transaction,...