CACI International Inc (NYSE: CACI) announced it has entered into a definitive agreement to acquire Azure Summit Technology for $1.275 billion in an all-cash transaction. This acquisition aims to strengthen CACI’s capabilities in national security by enhancing its offerings in intelligence, surveillance, reconnaissance (ISR), electronic warfare (EW), and signals intelligence (SIGINT). The move aligns with CACI’s strategic goals and highlights its commitment to deploying capital flexibly, following over $400 million in share repurchases over the last six quarters.
Azure Summit, known for its high-performance RF technology and engineering expertise in the electromagnetic spectrum, provides crucial capabilities for the Department of Defense (DoD). CACI President and CEO John Mengucci emphasized that this acquisition will be immediately accretive across financial metrics, offering strategic and financial benefits by bringing mature technology to CACI’s portfolio. Additionally, the transaction is expected to generate a tax benefit of $194 million over 15 years, effectively reducing the purchase price to $1.08 billion.
Azure Summit’s President, Thomas Green, expressed confidence in the cultural and technological alignment between the two companies, predicting a seamless integration and enhanced innovation for their mission-focused customers. The acquisition is expected to close in the second quarter of fiscal year 2025, pending regulatory approvals and customary closing conditions.
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