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Business/Financial

Huntington Ingalls Industries To Acquire Government Services Provider Camber

By Cal Biesecker

Wednesday, November 2nd, 2016

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Huntington Ingalls Industries To Acquire Government Services Provider Camber

Huntington Ingalls President and CEO Mike Petters. Photo: HII

Seeking to expand its services portfolio, shipbuilder Huntington Ingalls Industries [HII] on Wednesday said it has agreed to acquire government services provider Camber Corp. for $355 million in cash and plans to establish a new $1 billion business segment around its services companies.The deal is expected to close later this year, subject to regulatory approvals, and has been approved by HII's board of directors. The enterprise value of the deal is $380 million, including $25 million in tax benefits.Alabama-based Camber…

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