Defence

Amentum acquires provider of critical solutions PAE for $ 1.9 billion

The public services contractor Amentum has completed it had previously announced the acquisition of critical solutions provider PAE Incorporated (PAE).

The acquisition stalled about four months after the two companies signed a final deal.

The company acquired PAE outstanding shares in a cash transaction for approximately $ 1.9 billion, including certain fees and debt acceptance.

The acquisition creates one of the largest critical service providers for U.S. federal and federal governments.

Amentum CEO John Walmer said: “The acquisition of PAE is a significant step forward in our commitment to be the best partner for our customers.

“We look forward to bringing in the best people and the most differentiated solutions to support the success of our clients in defense and civilian agencies, while accelerating our growth in intelligence and technology services.”

PAE was founded in Falls Church, Virginia. The company’s global workforce numbered about 20,000 people in 60 countries.

During the announcement of the deal, PAE Interim President and CEO Charles Pifer said: “This strategic combination of the two leading companies in the market will benefit our customers and create additional opportunities for our employees while maximizing shareholder value.”

The acquisition will strengthen Amentum’s capabilities in synthetic training, spectrum and electronic warfare, sensor-based technology, intelligence, cyber and IT, satellite connectivity and mission support, among other areas.

Headquartered in Germantown, Maryland, USA, Amentum supports key programs in the defense, security, intelligence and energy sectors.

The company employs about 57,000 people worldwide.

Related companies



https://www.army-technology.com/news/amentum-acquires-pae/ Amentum acquires provider of critical solutions PAE for $ 1.9 billion

Back to top button