- Engility Holdings (EGL) agrees to acquire fellow government contractor Dynamics Research (DRCO) for $120.9M, or $11.50/share, a 59% premium over Friday's closing price.
- DRCO is a provider of IT services in health care, homeland security, intelligence and R&D, and has ~300 active contracts within organizations such as the Department of Defense.
- EGL says the deal will position it in new, higher-end markets.
Engility to acquire Dynamics Research for $120.9M
Dec 23 2013, 07:40 ET