Huntington Ingalls Industries (HII) has completed the acquisition of Alion Science and Technology for a cash consideration of $1.65bn from Veritas Capital.
The transaction, which was signed last month, will create more than $2.6bn in revenue products and solutions business.
The acquisition will expand HII’s capabilities and customer access in growth markets.
During the signing of the acquisition agreement, HII said it plans to fund the purchase by combining new senior notes and a term loan facility.
HII Technical Solutions division executive vice-president and president Andy Green said: “Alion greatly expands our ability to provide leading-edge solutions to the nation’s most complex national security challenges.
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By GlobalData“Alion is a perfect complement to our existing capabilities in the technology-driven defence and federal solutions space.
“The services and products they provide are directly in line with the strategic focus that we have articulated for technical solutions. Most importantly, we are excited to welcome such a widely respected group of experts to our team.”
Alion is a provider of advanced engineering and research and development services in the areas of intelligence, surveillance, reconnaissance (ISR), military training and simulation, cyber, data analytics, and various next-generation technology-based solutions.
It employs a workforce of 3,200, with more than 80% of employees maintaining security clearances.
The defence company’s existing customers include the US Department of Defense (DoD), intelligence community customers, and the US Navy, which represents about one-third of current annual revenues.
