Defense contractor General Dynamics Corp. agreed today to buy systems integrator Anteon International Corp. for about $2.1 billion in cash. A Fairfax, VA-based company that provides support to U.S. government defense and security programs, Anteon has about 9,500 employees and is expecting $1.7 billion in sales next year. According to a Reuters report, about 65% of Anteon employees have secret or top-secret security clearance, which makes it easier for the company to bid on federal intelligence contracts.
The report added that the deal is the latest in a line of small and mid-size acquisitions by defense contractors looking to get a larger share of the U.S. defense budget. As part of its purchase agreement, General Dynamics, based in Fairfax, VA, will assume $100 million of Anteon debt.