Huntington Ingalls to acquire Alion Science for $1.65B

Huntington Ingalls Industries (HII) has signed an agreement to acquire defense services company Alion Science and Technology for a cash consideration of $1.65bn from Veritas Capital. The acquisition will create more than $2.6bn in revenue products and solutions business. It will also expand capabilities, offer access to crucial contracts, cyber and data analytics, and electronic warfare-related technology development fields. HII will also benefit from Alion’s customer base in growth markets. Upon the completion of the transaction, Alion will become part of Huntington Ingalls Industries’ Technical Solutions division. Alion is expected to add approximately $1.6bn to HII fiscal 2022 revenue and adjusted earnings before interest, taxes, depreciation, and amortization of about…