GD to Acquire Vangent from Veritas Capital
- Transaction will expand company's exposure in fast-growing healthcare IT market.
The proposed acquisition, which has been approved by the board of directors of General Dynamics and by the seller, would be accretive to General Dynamics' earnings in 2012. The transaction is subject to customary closing conditions (including normal regulatory approvals) and is expected to close by October 1.
3D MAPPING & 3D MODELING: Global Advancements, Worldwide Market Size and Forecasts (2013 – 2018)
"Vangent is a well-regarded, fast-growing company that will add significant depth and breadth to General Dynamics' healthcare IT organization, creating a Tier 1-level healthcare IT business unit with the scope and scale to compete in markets that are receiving high priority in current funding and entitlement-reform initiatives," said Jay L. Johnson, chairman and chief executive officer of General Dynamics. "Increasingly agencies will rely on efficient, modern business and information systems as key enablers of their citizen-service missions, and Vangent is a leader in meeting those information technology and business system requirements."
Source : General Dynamics Corporation (NYSE: GD)
Jun 24 - 26, 2013 - Arlington, United States