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  • Tuesday, December 24, 2024

Maximus Completes $400M Purchase of General Dynamics’ Citizen Engagement Centers; Bruce Caswell Quoted


Bruce Caswell

Maximus (NYSE: MMS) has concluded its purchase of federal citizen engagement centers from General Dynamics™ (NYSE: GD) information technology business.

Maximus said Tuesday it will report the acquired assets under its U.S. federal services segment and expects the transaction to record $600M to $625M in fiscal 2019 revenue.

The Reston, Va.-based government services contractor agreed to acquire GDIT™s federal engagement centers in October for $400M in cash in a push to expand its citizen services delivery capabilities.

Bruce Caswell, Maximus president and CEO, said the company envisions to provide large-scale program management platforms in support of citizens who access critical government initiatives.

Maximus reported $2.39B in fiscal 2018 revenue and diluted earnings per share of $3.35.

As of the end of September, the company booked $2.7B in year-to-date signed contracts and recorded $553.3 million in pending contracts with a backlog of $5.1B.

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