HII to Acquire Alion Science and Technology
Huntington Ingalls Industries (NYSE:HII) has entered into a definitive agreement to acquire Alion Science and Technology -- technology-driven solutions provider for the global defense marketplace -- for $1.65 billion in cash from Veritas Capital, subject to customary adjustments.
Alion provides advanced engineering and R&D services in the areas of ISR, military training and simulation, cyber, data analytics and other next-generation technology based solutions to the DOD and intelligence community customers, with the U.S. Navy representing about one third of current annual revenues. Alion is poised for continued strong growth with over $3 billion in backlog today, with more than $5 billion in estimated contract value and a robust opportunity pipeline. Alion has more than 3,200 employees with over 80% of employees maintaining security clearances.