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Veronica Garabelli // February 26, 2015//
Engility Holdings Inc. announced Thursday it had completed its $1.3 billion acquisition of TASC Inc.
Chantilly-based Engility is a government services contractor. TASC, which also is based in Chantilly, provides services to national security and public safety customers. For 2014, the combined company generated estimated revenue of approximately $2.5 billion and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $210 million. Together the combined company has more than 2,000 contracts and task orders.
In a statement, Engility’s president and CEO Tony Smeraglinolo said the acquisition will among other things, help the company diversify its customer base and improve its cash flow and adjusted earnings.
The combined company will be led by a mix of executives from Engility and TASC. Engility’s CEO is leading the organization, while TASC’s former CEO, John P. Hynes Jr., is now chief operating officer of the merged firm. David Savner and Peter A. Marino are serving as non-executive co-chairmen of the firm, which has expanded its board of directors from seven members to 11 members.
