CACI Agrees To Acquire Azure Summit For $1.275B, Boosting Defense Capabilities
Portfolio Pulse from Lekha Gupta
CACI International, Inc. (NYSE:CACI) is acquiring Azure Summit Technology for $1.275 billion to enhance its defense capabilities, particularly in RF technology. The acquisition is expected to provide a $194 million tax benefit over 15 years. CACI shares rose 3.18% following the announcement.
September 16, 2024 | 4:06 pm
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CACI International is acquiring Azure Summit Technology for $1.275 billion, enhancing its defense capabilities. The acquisition is expected to provide a $194 million tax benefit over 15 years. CACI shares rose 3.18% following the announcement.
The acquisition of Azure Summit is a strategic move to enhance CACI's defense capabilities, particularly in RF technology. The expected tax benefit and the rise in share price indicate positive investor sentiment. The deal aligns with CACI's strategy to expand its offerings and drive shareholder value.
CONFIDENCE 95
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