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Engility To Acquire DRC To Expand Customer Base, Diversify Services

Cal Biesecker By
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Engility To Acquire DRC To Expand Customer Base, Diversify Services
Engility President and CEO Tony Smeraglinolo. Photo: Engility

Government services contractor Engility Corp. [EGL] on Monday said it has agree to acquire Dynamics Research Corp. [DRCO] for more than $120 million in cash in a deal that diversifies and expands its federal customer base and service offerings. Engility said it would pay $11.50 in cash for each outstanding share of DRC’s stock, resulting in an equity investment of about $121 million. DRC’s debt is $79.2 million, bringing the enterprise value of the deal to about $200 million. The…

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