Monthly Meeting - Tony Smeraglinolo, President and CEO, Engility

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Event Details

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March 20, 2015 8:30 AM - 10:15 AM EDT

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Overview

Body
7:30-9:15 am
Ritz-Carlton Tysons Corner
55 members  | 75 non member guests

Oct. 28, 2014-- Engility Holdings, Inc. (NYSE: EGL) and TASC, Inc. today announced that they have entered into a definitive agreement under which Engility will acquire privately-held TASC, a leading professional services provider to the national security and public safety markets, in an all-stock transaction valued at approximately 1.1 billion, including the assumption of net debt. This transaction will build on the strengths of each company to create a leading government services provider with expected combined pro-forma revenue of approximately 2.5 billion in 2014.

“The combination of our two complementary businesses is transformational and represents a unique opportunity to create a top-tier government services company,” said Tony Smeraglinolo, Engility President and Chief Executive Officer. “Since our successful spin-off and through our recent acquisition of DRC, which created substantial benefits for our stockholders, we have built a strong track record of developing and executing integration strategies that drive meaningful top- and bottom-line synergies. We expect this transaction to extend our track record and accelerate our growth strategy, which is focused on further diversifying our customer base, adding substantial scale to our business, broadening our capabilities and increasing our addressable market. Following the completion of the transaction, we expect our stockholders to benefit from an enhanced adjusted earnings growth rate, a significantly increased free cash flow and a lower effective cash tax rate.”
Highly Complementary Businesses Will Create a Leader in Government Services Industry with Greater Scale and Diversified Customer Base
Transaction to Provide Access to Important Intelligence Community Customer Base and Deliver Substantial Cost Savings
Immediately Increases Free Cash Flow
Expected to be Significantly Accretive to 2016 Adjusted EPS
Engility Stockholders to Receive Special Dividend of Approximately 11.40 Per Share in Cash Highly Complementary Businesses Will Create a Leader in Government Services Industry with Greater Scale and Diversified Customer Base
Transaction to Provide Access to Important Intelligence Community Customer Base and Deliver Substantial Cost Savings
Immediately Increases Free Cash Flow
Expected to be Significantly Accretive to 2016 Adjusted EPS
Engility Stockholders to Receive Special Dividend of Approximately 11.40 Per Share in Cash
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National Capital
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