Author: Jane Edwards|| Date Published: October 10, 2018
Bruce Caswell
Maximus (NYSE: MMS) has agreed to buy federal citizen engagement centers of General Dynamics (NYSE: GD) information technology business for $400M in cash in a move to expand its capabilities in citizen services delivery.
The company œis strengthening its position with some of the largest mission-critical federal civilian programs,” Bruce Caswell, Maximus president and CEO, said in a statement published Tuesday.
“This deal aligns with our Maximus digital modernization strategy and we remain keenly focused on improving the citizen experience for critical government programs while driving long-term innovation to meet evolving program demands, he added.
Maximus expects the deal to conclude in mid-November and be accretive to its diluted earnings per share in fiscal 2019 by $0.10 to $0.15.
GDIT™s citizen engagement centers included in the asset purchase transaction posted approximately $670M in revenue for the full year ended June 2018 and are expected to record $575M to $600M in fiscal 2019 revenue.
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