ASRC Federal to Acquire Logistics and Supply Chain Management Arm of SAIC

Rhea-AI Summary

ASRC Federal announced its acquisition of the logistics and supply chain management business from Science Applications International Corporation (SAIC) on March 23, 2023. This strategic move will enhance ASRC Federal's capabilities in providing secure and technology-enabled logistics solutions to the Defense Logistics Agency (DLA), serving various Department of Defense agencies. The acquisition is expected to close in Spring 2023, pending customary conditions, and will add around 240 professionals to ASRC Federal's workforce. This aligns with ASRC's mission to diversify its service offerings and support military readiness.

Positive

• Acquisition enhances ASRC Federal's logistics capabilities, boosting its service offerings.
• Integration of 240 professionals will expand operational capacity.
• Acquisition supports military readiness and strengthens ASRC's relationship with the Defense Logistics Agency.

Negative

• None.

RESTON, Va., March 23, 2023 /PRNewswire/ -- Today, ASRC Federal announced it has entered into a definitive agreement to acquire the logistics and supply chain management business of Science Applications International Corporation (NYSE: SAIC). With this acquisition, ASRC Federal will become a leading provider of secure, technology-enabled supply chain management and logistics solutions for the Defense Logistics Agency (DLA) which provides services to Department of Defense (DoD) agencies, including the U.S. Army, U.S. Air Force and U.S. Navy on a global scale.

The to-be-acquired business is a natural fit with ASRC Federal's base operations support capability that currently provides procurement, logistics and warehousing services at military locations throughout the United States.

"This acquisition provides another channel for growth by further diversifying our robust set of capabilities," said ASRC Federal President and CEO Jennifer Felix. "I am excited to welcome this mission-focused team who has earned a best-in-class reputation for delivering innovative solutions to their customers. Their work directly impacts the readiness of America's warfighters, and they will bring tremendous capability to both new and existing ASRC Federal customers."

Upon close, ASRC Federal will add about 240 professionals. The transaction is expected to close in Spring 2023 and is subject to customary closing conditions.

About ASRC Federal

ASRC Federal's family of companies deliver successful mission outcomes and elevated performance for federal civilian, defense and intelligence agencies while building an enduring enterprise focused on customers, employees, and shareholders. For more information, please visit www.asrcfederal.com.

View original content:https://www.prnewswire.com/news-releases/asrc-federal-to-acquire-logistics-and-supply-chain-management-arm-of-saic-301780143.html

SOURCE ASRC Federal

FAQ

What business is ASRC Federal acquiring from SAIC?

ASRC Federal is acquiring the logistics and supply chain management business from Science Applications International Corporation (SAIC).

When is the acquisition of SAIC expected to close?

The acquisition is expected to close in Spring 2023, subject to customary closing conditions.

How many professionals will ASRC Federal add from this acquisition?

ASRC Federal will add approximately 240 professionals from the acquisition.

What is the strategic importance of this acquisition for ASRC Federal?

The acquisition will enhance ASRC Federal's capabilities in secure supply chain management and logistics, supporting military operations.