CACI Gets Ready to Take Control Over Lockheed's IT Business
FREMONT, CA: Lockheed Martin is an American global aerospace, defense, security and advance technologies company with worldwide interest. Its deal of acquiring Sikorsky Aircraft, the helicopter unit of United Technologies valued at 9 Bn dollars pushed it under debt. Willing to clear the debts, Lockheed plans to give away its government IT business and chooses CACI for the same.
Earlier, Lockheed was among U.S. chief government service after making a deal with CACI having brand value of 2.4 Bn dollars which is lower than government standard. Though Lockheed’s government IT business is earning 4.5 Bn to 5 Bn dollars annually, which is lesser from the estimated business CACI still retains the same excitement for the upcoming deal as compared to other companies and emerges as a major competitor to take over Lockheed Martin. CACI and Lockheed’s conversation about the assets also orbited around considering Reverse Morris Trust (RMT) to preclude husky tax bill.
The Company has high interest in the services and information technology units said Bruce Tanner, Chief Financial Officer, Lockheed. He also announced that the decision on future endeavor’s will be taken early in this year by Lockheed Martin. But it is consuming time as Lockheed’s people are unable to decide about the remaining IT business whether to sell it or spin-off.