Huntington Ingalls Industries (NYSE: HII) has closed its $1.65 billion cash acquisition of Alion Science and Technology as part of a growth strategy to expand HII’s technical service offerings in target markets.
The Newport News, Virginia-based shipbuilder first announced the transaction to acquire Alion from private equity firm Veritas Capital on July 6.
“Alion is a perfect complement to our existing capabilities in the technology-driven defense and federal solutions space,” said Andy Green , an executive vice president at HII and president of its Technical Solutions division.
Green, a 2021 Wash100 Award recipient, added that the acquired company’s products and services align with the strategic focus in HII’s government business.
HII formed its Technical Solutions unit in late 2016 and forecasts the division to experience an annual pro forma revenue growth rate of 7 percent to 9 percent through 2024.
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