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General Dynamics [GD] on Tuesday said it has completed its $9.7 billion acquisition of CSRA Inc., allowing it to create a new information technology segment that is the second largest business serving the federal IT sector.
GD said it expects the deal to be accretive to its earnings per share and free cash flow in 2019.
The new $9.9 billion GDIT sector is led by Amy Gilliland, who previously ran the company’s GD Information Technology business unit.
“The combined CSRA and GDIT offers innovative, competitive and compelling solutions to our customers, and provides attractive free cash flow coupled with good incremental return on capital for investors,” Phebe Novakovic, GD’s chairman and CEO, said in a statement. “GDIT is positioned to deliver cost-effective, next-generation IT solutions and services to the Department of Defense, the intelligence community and federal civilian agencies as they modernize their information systems.”
A GD spokeswoman told Defense Daily with the closing of the acquisition, senior CSRA executive that were offered contracts with GD contingent on completion of the deal are all on board. These executives include George Batsakis, Christian Marrone, Kenneth Deutsch, Paul Nedzbala, and Leigh Palmer.
