Private equity firm, Ares Management, will acquire Global Defense Technology & Systems for about $223.1 million, The Wall Street Journal reports. As per the deal, the shareholders of Global Defense, which provides information technology to the national security agencies and the U.S. government, will get $24.25 a share.
Ares will also assume Global Defense debt in the deal, which will boost the total value of the transaction to $315 million, adds The Associated Press. The deal is expected to be completed by the second quarter of 2011.
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