The cost of the transaction would be approximately $2.2 billion, including the assumption of Anteon’s $100 million of net debt.
The proposed acquisition, which has been approved by the boards of directors of both companies, would be immediately accretive to General Dynamics’ earnings. Subject to an affirmative vote by Anteon shareholders and normal regulatory approvals, the transaction is expected to close by the end of the second quarter of 2006.
Anteon, headquartered in Fairfax, Virginia., has approx. 9,500 employees in more than 100 offices worldwide. The company has a current business backlog of $6.6 billion and anticipates 2006 sales of $1.72 billion.
“This superb company significantly strengthens the ability of our Information Systems and Technology group to provide a broad menu of seamless information technology (IT) services to Defense, Intelligence and Homeland Security customers,” commented Nicholas D. Chabraja, General Dynamics chairman and CEO.
Anteon is systems integration company that provides mission, operational and IT enterprise support to the