HII to acquire Alion Science and Technology for $1.65B in cash from Veritas Capital

HUNTINGTON INGALLS INDUSTRIES, INC.

Acquisition of Alion for $1.65B cash; enterprise value to 2022 adjusted EBITDA multiple of ~12.2x.
Alion expected to contribute ~$1.6B revenue and ~$135M adjusted EBITDA in 2022.
Deal significantly cash flow accretive in 2022, GAAP EPS accretive in 2023; HII 2022-2024 FCF guidance raised by ~$200M.
Technical Solutions pro forma revenue CAGR accelerated to 7-9% through 2024.
Closing expected H2 2021, subject to regulatory approvals; funded with new senior notes and term loan.

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