Science Applications International (NYSE:SAIC) has announced the sale of its logistics and supply chain management business to ASRC Federal for $350 million in cash. The deal is expected to close in the first half of SAIC’s fiscal year 2024, and approximately 240 SAIC employees are expected to transition to ASRC Federal upon deal close. Jefferies served as the exclusive financial advisor and King & Spalding served as legal counsel to SAIC, while Gibson, Dunn & Crutcher served as legal counsel to ASRC Federal.
- Science Applications International (NYSE:SAIC) has disposed of its logistics and supply chain management business through a sale to ASRC Federal for $350 million cash, the company said on Thursday.
- The company said about 240 SAIC employees will transition to ASRC Federal upon deal close.
- The transaction is expected to close in the first half of SAIC’s fiscal year 2024.
- Jefferies served as the exclusive financial advisor, King & Spalding served as legal counsel to SAIC.
- Gibson, Dunn & Crutcher served as legal counsel to ASRC Federal.
Source: SeekingAlpha
