General Dynamics to buy Veridian

General Dynamics Corp. plans to acquire Veridian Corp., a move that will expand General Dynamics' information technology presence in Defense and intelligence agencies.

The two contractors announced a definitive agreement today.

General Dynamics will buy Veridian shares for a total of $1.5 billion. The agreement is subject to the approval of both companies' boards of directors and is expected to close by the end of October.

Veridian, based in Arlington, Va., will have about $1.4 billion in revenues in 2004, according to General Dynamics estimates.

"Veridian has grown dramatically in the past 12 months, and we believe it will reach its full potential as part of General Dynamics," said Nicholas Chabraja, chairman and chief executive officer of General Dynamics.

According to its buyer, Veridian has established its expertise in a number of areas, including network security, intelligence, knowledge discovery, decision support, information systems development and integration, network and enterprise management, and large-scale systems engineering.

The company also works in chemical, biological and nuclear detection. More than 75 percent of Veridian's employees hold national security clearances.

Featured

  • People
    Federal CIO Suzette Kent

    Federal CIO Kent to exit in July

    During her tenure, Suzette Kent pushed on policies including Trusted Internet Connection, identity management and the creation of the Chief Data Officers Council

  • Defense
    Essye Miller, Director at Defense Information Management, speaks during the Breaking the Gender Barrier panel at the Air Space, Cyber Conference in National Harbor, Md., Sept. 19, 2017. (U.S. Air Force photo/Staff Sgt. Chad Trujillo)

    Essye Miller: The exit interview

    Essye Miller, DOD's outgoing principal deputy CIO, talks about COVID, the state of the tech workforce and the hard conversations DOD has to have to prepare personnel for the future.

Stay Connected

FCW INSIDER

Sign up for our newsletter.

I agree to this site's Privacy Policy.