General Dynamics is buying Anteon International for $2.2 billion to beef up its IT services.
Anteon is a systems integration company that provides IT services to the US government, designing, integrating and maintaining systems for national defence, intelligence emergency and other high-priority government missions. The company also offers mission-critical systems engineering and program management services to enterprises.
General Dynamics has traditionally been a major supplier of advanced defence systems to the US government and its allies. In recent years, it has expanded into mission-critical information systems and technologies.
"This superb company significantly strengthens the ability of our Information Systems and Technology group to provide a broad menu of seamless information technology services to Defence, Intelligence and Homeland Security customers," said General Dynamics CEO Nicholas D. Chabraja. "Anteon has grown consistently by offering high-value integration and systems engineering services to customers with demanding mission requirements. Adding those capabilities... will enable General Dynamics to reach a higher level of performance and create additional shareholder value."
Anteon CEO, Joseph Kampf, was equally up-beat: "This acquisition provides significant value for our shareholders, and it enables Anteon to become a more powerful force in its markets. We will be able to provide a stronger future for our employees as well as broader offerings to our customers, and continue to make a difference in areas that matter for our country."