NORTHROP GRUMMAN COMPLETES ACQUISITION OF FEDERAL DATA CORPORATION
Contact: Bob Koch
(703) 713-4431
LOS ANGELES -- Oct. 23, 2000 -- Northrop Grumman Corporation (NYSE: NOC) announced today that it has completed the acquisition of Federal Data Corporation of Bethesda, Md., a leading systems integrator and supplier of information technology (IT) to the federal government.
Highlights
- Northrop Grumman completes purchase of Federal Data Corporation
- FDC will be integrated into Logicon
- Acquisition expands Logicon's customer base and product offerings
Related Links
Logicon Federal Data Web Site The transaction is valued at $302 million, including approximately $130 million in cash, $154 million in debt that was retired in conjunction with the closing and $18 million in other transaction costs. Federal Data will be integrated into the operations of Logicon Inc., Northrop Grumman's information technology sector.
"The addition of Federal Data Corporation to the Logicon team provides us with a greater range of products and services to offer the federal government," said Herb Anderson, corporate vice president, president, and chief executive officer of Logicon. "We gain access to new customers, such as the Federal Aviation Administration, the National Institutes of Health and the Veterans Administration and expand our business base with existing clients. Logicon is already a strong competitor and Federal Data is an excellent strategic fit that will enhance our ability to win new business and grow the enterprise," he added.
Federal Data is a leading provider of innovative IT solutions targeted at the rapidly growing federal civil marketplace. Its experience as a large-scale systems integrator enhances Logicon's thrust into high-end professional IT services and support. Federal Data is the largest supplier of Cisco Systems hardware to the federal government, for which it is also a major provider of enterprise networking hardware, software, servers and related services.
Federal Data, with 1,400 employees and 1999 revenues of $584 million, was acquired from The Carlyle Group, a private investment firm based in Washington, D.C. Salomon Smith Barney was the financial advisor to Northrop Grumman in this transaction.
Logicon Inc., headquartered in Herndon, is a leader in advanced information technologies, systems and services. Areas of expertise include command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR); weapon systems; information systems; training and simulation; science and technology; base and range support; and commercial information services.
Northrop Grumman Corporation, headquartered in Los Angeles, is a world-class, high technology company providing innovative solutions in systems integration, defense electronics and information technology for its U.S. and international military, government and commercial customers, as a prime contractor, principal subcontractor, team member or preferred supplier. The company had revenues of $7.6 billion in 1999 (restated) and now has a workforce of approximately 39,000 employees.
