ASRC Federal Holdings on Thursday said it has agreed to acquire the logistics and supply chain management business of Science Applications International Corp. [SAIC] for $350 million in cash, complementing its military base operations support work.

ASRC Federal is a subsidiary of Arctic Slope Regional Corp. The deal is expected to close this spring and is subject to regulatory approvals. The acquired business has about 240 employees.

“This acquisition provides another channel for growth by further diversifying our robust set of capabilities,” Jennifer Felix, president and CEO of ASRC Federal, said in a statement.

ASRC Federal’s existing base support work includes procurement, logistics and warehousing services at locations in the U.S. SAIC’s logistics and supply chain solutions are used by the Defense Logistics Agency.

SAIC said the pending divestment is part of its portfolio shaping.

“The agreement allows for seamless transition and continued support for the logistics and supply chain management business and their important customer missions, while enabling SAIC to concentrate resources in our Growth and Technology Accelerant area of focus,” Nazzic Keene, SAIC’s CEO, said in a statement. “These areas include secure cloud, enterprise IT, and systems integration and delivery which now account for more than 30 percent of SAIC revenue.”

Jefferies is SAIC’s financial adviser on the transaction.