{"id":500687,"date":"2021-06-03T16:23:50","date_gmt":"2021-06-03T20:23:50","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/saic-to-acquire-federal-health-it-company-halfaker-and-associates\/"},"modified":"2021-06-03T16:23:50","modified_gmt":"2021-06-03T20:23:50","slug":"saic-to-acquire-federal-health-it-company-halfaker-and-associates","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/saic-to-acquire-federal-health-it-company-halfaker-and-associates\/","title":{"rendered":"SAIC to Acquire Federal Health IT Company Halfaker and Associates"},"content":{"rendered":"<p>        <!--.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>SAIC to Acquire Federal Health IT Company Halfaker and Associates<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><i>Expands SAIC\u2019s health IT portfolio and accelerates long-term strategy<\/i><\/li>\n<li><i>Well aligned to company\u2019s growing digital transformation presence<\/i><\/li>\n<li><i>Transaction will be accretive to SAIC\u2019s revenue growth rate, adjusted diluted earnings per share, and free cash flow in fiscal year 2022<\/i><\/li>\n<\/ul>\n<p>RESTON, Va.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nScience Applications International Corp. (NYSE: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.saic.com%2F&amp;esheet=52440152&amp;newsitemid=20210603005984&amp;lan=en-US&amp;anchor=SAIC&amp;index=1&amp;md5=de3fe89f53d4b52e507ecd30c939f3b7\">SAIC<\/a>) announced today that it has entered into a definitive agreement to acquire Halfaker and Associates, LLC, a leading federal health technology solutions provider, for $250 million, growing the company\u2019s digital transformation portfolio.\n<\/p>\n<p>\nHalfaker is headquartered in Arlington, Virginia, with an Agile Delivery Center in Clearwater, Florida. The company is known for its ability to create, modernize, integrate, and secure mission critical systems for federal government customers. Halfaker has a strong culture of service, rooted in the desire to make a difference in the lives of its community, veterans, and wounded warriors.\n<\/p>\n<p>\n\u201cThis acquisition reinforces SAIC\u2019s commitment to supporting the government healthcare mission, including our strong support for the health and wellbeing of veterans. It further accelerates SAIC\u2019s profitable growth, brings key diverse talent, and offers access to strategic customers and contract vehicles within health IT for the DOD and federal government,\u201d said SAIC CEO <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.saic.com%2Fwho-We-Are%2Fabout-SAIC%2Fleadership%2FNazzic-Keene&amp;esheet=52440152&amp;newsitemid=20210603005984&amp;lan=en-US&amp;anchor=Nazzic+Keene&amp;index=2&amp;md5=d34e3d1ac41c96a5bf00bb597f64011a\">Nazzic Keene<\/a>. \u201cHalfaker is a strong cultural fit with mission-focused talent, and enhances our ability to support our customers\u2019 digital transformation needs and positions SAIC to be an innovative technology solutions provider into the future.\u201d\n<\/p>\n<p>\n\u201cI am excited to embark on this next chapter of Halfaker\u2019s mission to continue to serve,\u201d said Halfaker President and CEO Dawn Halfaker. \u201cThe alignment of SAIC\u2019s culture and values with this important mission has been critical in making the decision to join forces and successfully bolster the services we provide our customers with even greater digital transformation capacity and scalability. This acquisition enables our delivery teams to maintain our customer-centric focus while exponentially increasing our ability to provide the technical depth and top technical talent needed to meet the government\u2019s most pressing challenges.\u201d\n<\/p>\n<p><b>Strategic Alignment to Digital Transformation<\/b><\/p>\n<p>\nHalfaker brings advanced end-to-end digital solutions that further transform and empower customer decision-making through modernization and optimization. Halfaker is an established, leading provider of digital services, data analytics, cybersecurity, and cloud solutions to the Department of Veterans Affairs (VA), Department of Defense, Department of Health and Human Services, the Centers for Medicare and Medicaid services, and other notable customers. Halfaker is also a top 5 IT provider by awarded task orders on the VA\u2019s Transformation Twenty-One Total Technology Next Generation (T4NG) acquisition program.\n<\/p>\n<p>\nTogether, SAIC and Halfaker\u2019s solutions strengthen the company\u2019s robust digital transformation portfolio in areas such as DevSecOps, digital engineering, automation, and process improvement.\n<\/p>\n<p><b>Transaction Details<\/b><\/p>\n<p>\nSAIC expects the transaction to be accretive to its revenue growth rate, adjusted diluted earnings per share, and free cash flow in fiscal year 2022. SAIC expects to fund the $250 million cash transaction through a combination of cash on hand and incremental debt.\n<\/p>\n<p>\nThe transaction is expected to close by the end of SAIC\u2019s second quarter of fiscal year 2022, ending July 30, 2021, subject to customary closing conditions.\n<\/p>\n<p><b>Advisors<\/b><\/p>\n<p>\nRobert W. Baird &amp; Co. acted as the exclusive financial advisor to Halfaker and Associates on this transaction, and Crowell &amp; Moring LLP served as legal counsel. King &amp; Spalding LLP served as legal counsel to SAIC.\n<\/p>\n<p><b>About SAIC<\/b><\/p>\n<p>\nSAIC\u00ae is a premier Fortune 500\u00ae technology integrator driving our nation\u2019s technology transformation. Our robust portfolio of offerings across the defense, space, civilian, and intelligence markets includes secure high-end solutions in engineering, digital, artificial intelligence, and mission solutions. Using our expertise and understanding of existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to deliver innovative, effective, and efficient solutions that are critical to achieving our customers&#8217; missions.\n<\/p>\n<p>\nWe are more than 26,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.2 billion.\u200b\u200b\u200b\u200b For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.saic.com%2F&amp;esheet=52440152&amp;newsitemid=20210603005984&amp;lan=en-US&amp;anchor=saic.com&amp;index=3&amp;md5=d8e1974dd1e7942a3a1854beefedd16f\">saic.com<\/a>. For ongoing news, please visit our <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.saic.com%2Fwho-we-are%2Fnewsroom&amp;esheet=52440152&amp;newsitemid=20210603005984&amp;lan=en-US&amp;anchor=newsroom&amp;index=4&amp;md5=8ee278c4ac651d12e176bf9cfcdb56e4\">newsroom<\/a>.\n<\/p>\n<p style=\"font-weight:normal\"><b>Forward-Looking Statements<\/b><\/p>\n<p>\nCertain statements in this release contain or are based on \u201cforward-looking\u201d information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as \u201cexpects,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201canticipates,\u201d \u201cbelieves,\u201d \u201cestimates,\u201d \u201cguidance,\u201d and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the \u201cRisk Factors,\u201d \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d and \u201cLegal Proceedings\u201d sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fsaic.com&amp;esheet=52440152&amp;newsitemid=20210603005984&amp;lan=en-US&amp;anchor=saic.com&amp;index=5&amp;md5=b4bbc0a57224f664d1346569c55b7c5a\">saic.com<\/a> or on the SEC\u2019s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.sec.gov%2F&amp;esheet=52440152&amp;newsitemid=20210603005984&amp;lan=en-US&amp;anchor=sec.gov&amp;index=6&amp;md5=515e5ab242b144865bc3b8d4e4704c6d\">sec.gov<\/a>. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC\u2019s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210603005984r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210603005984\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210603005984\/en\/<\/a><\/span><\/p>\n<p>\nMedia Contact:<br \/>\n<br \/><b>Lauren Presti<br \/>\n<\/b><br \/>703.676.8982 | <a rel=\"nofollow\" href=\"mailto:lauren.a.presti@saic.com\">lauren.a.presti@saic.com<\/a><\/p>\n<p>\nInvestor Relations Contact:<br \/>\n<br \/><b>Shane Canestra<br \/>\n<\/b><br \/>703.676.2720 | <a rel=\"nofollow\" href=\"mailto:shane.p.canestra@saic.com\">shane.p.canestra@saic.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> District of Columbia Virginia United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Technology Security Other Technology Software Networks Other Health Health General Health Data Management<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210603005984\/en\/677192\/3\/SAIC_No_Tagline.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>SAIC to Acquire Federal Health IT Company Halfaker and Associates Expands SAIC\u2019s health IT portfolio and accelerates long-term strategy Well aligned to company\u2019s growing digital transformation presence Transaction will be accretive to SAIC\u2019s revenue growth rate, adjusted diluted earnings per share, and free cash flow in fiscal year 2022 RESTON, Va.&#8211;(BUSINESS WIRE)&#8211; Science Applications International Corp. (NYSE: SAIC) announced today that it has entered into a definitive agreement to acquire Halfaker and Associates, LLC, a leading federal health technology solutions provider, for $250 million, growing the company\u2019s digital transformation portfolio. Halfaker is headquartered in Arlington, Virginia, with an Agile Delivery Center in Clearwater, Florida. The company is known for its ability to create, modernize, integrate, and secure mission critical systems &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/saic-to-acquire-federal-health-it-company-halfaker-and-associates\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SAIC to Acquire Federal Health IT Company Halfaker and Associates&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-500687","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SAIC to Acquire Federal Health IT Company Halfaker and Associates - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/saic-to-acquire-federal-health-it-company-halfaker-and-associates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SAIC to Acquire Federal Health IT Company Halfaker and Associates - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SAIC to Acquire Federal Health IT Company Halfaker and Associates Expands SAIC\u2019s health IT portfolio and accelerates long-term strategy Well aligned to company\u2019s growing digital transformation presence Transaction will be accretive to SAIC\u2019s revenue growth rate, adjusted diluted earnings per share, and free cash flow in fiscal year 2022 RESTON, Va.&#8211;(BUSINESS WIRE)&#8211; Science Applications International Corp. (NYSE: SAIC) announced today that it has entered into a definitive agreement to acquire Halfaker and Associates, LLC, a leading federal health technology solutions provider, for $250 million, growing the company\u2019s digital transformation portfolio. Halfaker is headquartered in Arlington, Virginia, with an Agile Delivery Center in Clearwater, Florida. 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(NYSE: SAIC) announced today that it has entered into a definitive agreement to acquire Halfaker and Associates, LLC, a leading federal health technology solutions provider, for $250 million, growing the company\u2019s digital transformation portfolio. Halfaker is headquartered in Arlington, Virginia, with an Agile Delivery Center in Clearwater, Florida. 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