Nazzic Keene: Halfaker & Associates Purchase Highlights SAIC Commitment to Federal Health IT Support
Scientific Applications International Corp. (NYSE: SAIC) has agreed Buy Halfaker and Associates for approximately $ 250 million in cash to expand its portfolio of health information technology offerings.
SAIC announced Thursday that it will use its existing cash and additional debt to fund the acquisition, which is expected to close by the end of the second quarter of fiscal year 2022, which ends July 30.
based in Arlington, Virginia Halfaker is a federal health IT company focused on delivering digital services, cloud platforms, data analytics, cybersecurity support, and other IT services to federal agencies, including Veterans Affairs, Health and Human Services, and Defense. The company has an Agile Delivery Center in Clearwater, Florida.
“This acquisition reaffirms SAIC’s commitment to the government’s health mission, including our strong support for the health and welfare of veterans,” said Nazi Keene, CEO of SAIC and a Wash100 award 2021 Winner.
She added that the transaction would give the company access to healthcare IT contract vehicles that the DOD and other federal agencies are involved in.
SAIC also expects the acquisition to expand its portfolio of digital transformation offerings in areas such as digital engineering, DevSecOps, process improvement and automation, and to impact adjusted diluted earnings per share, revenue growth rate and free cash flow in FY 2022.
Twilight Halfaker, Founder, President and CEO of Halfaker and Associates said the company aims to enhance its ability to provide technical services and professionals necessary for agencies’ digital transformation efforts.
Robert W. Baird & Co. acted as exclusive financial advisor to Halfaker and Associates on the transaction.
“It’s a privilege to work with someone you admire so much. From Dawn’s stellar military career to her relentless dedication to helping veterans and wounded warriors, she has built such a great company in Halfaker and Associates, “said Jean stack, CEO of Baird and a former Washing100 Award winners. “It takes a special company like SAIC to take Dawn’s vision and passion to the next level.”
Crowell & Moring advised Halfaker on the legal aspects of the deal. King & Spalding acted as legal advisor to SAIC on the transaction.
If you are interested in the federal government’s digital modernization efforts, then take a look at the Potomac Officers Club 2021 Digital Transformation Forum will be released on August 10th. To register for this virtual forum and view other upcoming events, visit POC events Page.