William McCormick
Science Applications International Corp. has entered into a definitive agreement to acquire federal health information technology company Halfaker and Associates for approximately $250 million in cash. SAIC named King & Spalding as its legal counsel, while Halfaker tapped Robert W. Baird & Co. to serve as exclusive financial advisor and Crowell & Moring as legal counsel.
SAIC said Thursday the acquisition is meant to expand its health IT portfolio and support its long-term strategy.
Nazzic Keene, CEO of SAIC and a 2021 Wash100 Award recipient said Halfaker’s mission-focused talent will help SAIC meet customers’ digital transformation needs.
“It further accelerates SAIC’s profitable growth, brings key diverse talent, and offers access to strategic customers and contract vehicles within health IT for the [Department of Defense] and federal government,” she added.
Dawn Halfaker, president and CEO of Halfaker, said the companies will collaborate to provide clients with increased digital transformation capacity and scalability.
Jean Stack, managing director for Baird and another Wash100 awardee, also commented on the deal. “It is such a privilege to work with someone for whom you have such admiration. From Dawn’s distinguished military career to her relentless dedication to support veterans and wounded warriors, she has built such an amazing company with Halfaker and Associates. It takes a special company like SAIC to take Dawn’s vision and passion to the next level.”
Halfaker markets end-to-end digital offerings meant to transform and empower customer decision-making through optimization and modernization. The company has supplied digital services to the departments of Veterans Affairs, Defense, and Health and Human Services, the Centers for Medicare and Medicaid services and others.
SAIC plans to fund the acquisition with a combination of cash on hand and incremental debt.
The transaction, which is subject to customary closing conditions, is expected to be completed by the end of SAIC’s second quarter of the fiscal year 2022, ending July 30.
About Robert W. Baird & Co.
Robert W. Baird & Co. is an independent investment bank and financial services company. It is the principal U.S. operating subsidiary of Baird, an international, employee-owned financial services firm providing investment banking, capital markets, private equity, wealth management, and asset management services to individuals, corporations, institutional investors and municipalities. Baird has over 4,600 employees and offices in the United States, Europe, and Asia.
About SAIC
SAIC is a premier Fortune 500 technology integrator driving our nation’s technology transformation. The company’s robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in engineering, digital, artificial intelligence and mission solutions.
