Engility
{{Short description|American engineering and logistics company}}
{{Infobox company
| name = Engility Holdings, Inc.
| logo = Engility Logo 2018.png
| type = Subsidiary
| foundation = {{Start date and age|2011|07}}
| hq_location_city = Chantilly, Virginia
| hq_location_country = U.S.
| area_served = United States
| key_people = Lynn Dugle (CEO)
| revenue = {{decrease}} $1.93 billion
| revenue_year = 2017
| net_income = {{decrease}}-$35.2 million
| net_income_year = 2017
| num_employees = 11,000 (January 2015)
| parent = Science Applications International Corporation
| subsid = TASC
| website = [https://web.archive.org/web/20180806094741/http://www.engility.com/ www.engility.com]}}
Engility Holdings, Inc. was an American publicly traded company that provided engineering and logistics services to several United States Armed Forces and civilian agencies. The company based in Chantilly, Virginia was formed in 2012 as a spin-off of the services division of L3 Technologies. As of 2017, Engility reports an annual revenue of about $2 billion. On September 10, 2018, Science Applications International Corporation announced it was buying Engility for about $2.5 billion with the brand being retired.{{Cite web|url=https://investors.saic.com/press-release/acquisition/saic-acquire-engility-uniting-two-leading-technology-integrators|title=SAIC to Acquire Engility Uniting Two Leading Technology Integrators|website=Science Applications International Corporation|language=en|access-date=2018-09-10}}
History
Engility is now part of SAIC. Engility, previously known as L-3 Services, Inc., became an independent publicly traded corporation in July 2012 as part of a spin-off transaction by L-3 Communications Corporation. At the time of the spin-off, the new company was estimated to have an annual revenue of $1.6 to $2 billion and employed about 9,000 to 10,000 people.{{Cite news|url=https://dealbook.nytimes.com/2011/07/28/l-3-to-spin-off-a-government-services-unit/|title=L-3 to Spin Off a Government Services Unit|last=De la Merced|first=Michael J.|date=July 28, 2011|work=DealBook|access-date=March 29, 2018|publisher=New York Times|language=en-US}}{{Cite news|url=https://www.washingtonpost.com/business/capitalbusiness/engility-spins-off-from-l-3-communications/2012/07/17/gJQA5ZLgrW_story.html|title=Engility spins off from L-3 Communications|last=Censer|first=Marjorie|date=2012-07-17|newspaper=Washington Post|access-date=2018-03-29|language=en-US|issn=0190-8286}} The L-3 Services Group EVP, Tony Smeraglinolo, was announced as the CEO of the new defense contractor firm. Following the spin-off from its New York-based parent company, Engility established its headquarters in Chantilly, Virginia, in the Washington metropolitan area. The new company acquired much of L-3's services business, while its former parent company retained most of the products business.
In January 2013, the Associated Press reported that Engility had paid a $5.28 million settlement to 71 former inmates of Abu Ghraib prison.{{Cite news|url=https://www.nytimes.com/2013/01/09/world/middleeast/contractor-settles-case-in-iraq-prison-abuse.html|title=Contractor Settles Case in Iraq Prison Abuse|last=Cushman|first=John H. Jr|date=2013|work=The New York Times|access-date=2018-03-29|language=en-US|issn=0362-4331}} The company had inherited lawsuits from L-3 Services Group which in turn had inherited them when L-3 Communications acquired Titan Corporation.{{Cite news|url=https://www.usatoday.com/story/news/world/2013/01/08/abu-ghraib-payments-5-million/1818945/|title=Defense contractor paid $5M to Iraqis over Abu Ghraib|last1=Associated Press|date=January 8, 2013|work=USA Today|access-date=2018-03-29|last2=Herschaft|first2=Randy|language=en}}{{Cite news|url=https://www.washingtonpost.com/business/capitalbusiness/abu-ghraib-scandal-continuing-to-create-repercussions-for-contractors/2013/01/09/88e0f0ce-5a70-11e2-9fa9-5fbdc9530eb9_story.html|title=Abu Ghraib scandal continuing to create repercussions for contractors|last=Censer|first=Marjorie|date=2013-01-09|newspaper=Washington Post|access-date=2018-03-29|language=en-US|issn=0190-8286}} The contract with the United States Armed Forces called for Titan to provide translators to support the personnel in the Iraqi prison.
In December 2013, Engility agreed to acquire the Andover, Massachusetts,-based Dynamics Research Corporation.{{Cite news|url=https://www.washingtonpost.com/business/capitalbusiness/engility-to-buy-dynamics-research-for-about-120-million/2013/12/23/4e58c2da-6bd9-11e3-a523-fe73f0ff6b8d_story.html|title=Consolidation looms as Engility picks up DRC|last=Censer|first=Marjorie|date=2013-12-23|newspaper=Washington Post|access-date=2018-03-29|language=en-US|issn=0190-8286}} Valued at $120.9 million,{{Cite news|url=https://www.wsj.com/articles/engility-holdings-to-acquire-dynamics-research-for-1209-million-1387800624|title=Engility Holdings to Acquire Dynamics Research for $120.9 Million|last=Mason|first=Everdeen|date=2013-12-23|work=Wall Street Journal|access-date=2018-03-29|language=en-US|issn=0099-9660}} the deal was completed in January 2014, beginning a full integration of the two companies.{{Cite news|url=https://www.washingtonpost.com/business/capitalbusiness/after-18-months-reshaping-engility-seeks-growth-in-drc-acquisition/2014/02/07/a812d776-8cf8-11e3-98ab-fe5228217bd1_story.html|title=After 18 months reshaping, Engility seeks growth in DRC acquisition|last=Censer|first=Marjorie|date=2014-02-07|newspaper=Washington Post|access-date=2018-03-29|language=en-US|issn=0190-8286}}
In October 2014, Engility announced that it planned to acquire another Chantilly, Virginia-based defense contractor, TASC{{Cite news|url=https://www.reuters.com/article/us-tasc-offer-engility/u-s-government-contractor-engility-to-buy-tasc-for-about-1-1-billion-idUSKBN0IH27A20141028|title=U.S. government contractor Engility to buy TASC for about $1.1 billion|last1=Ajmera|first1=Ankit|date=October 28, 2014|work=Reuters|access-date=2018-03-29|last2=Mehta|first2=Tanvi|language=en-US}} KKR and General Atlantic, the private equity firms which previously owned TASC, gained a 51% stake in Engility Holdings as part of the merger.{{Cite news|url=https://www.wsj.com/articles/government-services-contractor-engility-to-buy-tasc-for-1-1-billion-1414529932|title=Engility, TASC to Merge in $1.1 Billion All-Stock Deal|last1=Cameron|first1=Doug|date=October 28, 2014|work=Wall Street Journal|access-date=March 29, 2018|last2=Beckerman|first2=Josh|language=en-US|issn=0099-9660}} The all-stock acquisition deal was valued at $1.1 billion.{{Cite news|url=https://www.washingtonpost.com/business/capitalbusiness/engility-to-acquire-tasc-for-11-billion/2014/10/28/f7f78810-5edd-11e4-91f7-5d89b5e8c251_story.html|title=Engility to acquire TASC for $1.1 billion|last=Jayakumar|first=Amrita|date=2014-10-28|newspaper=Washington Post|access-date=2018-03-29|language=en-US|issn=0190-8286}} Engility completed the acquisition of its rival in February 2018 with the final price for the deal reported as $1.3 billion.{{Cite news|url=https://www.washingtonpost.com/business/capitalbusiness/engility-tasc-complete-11b-merger/2015/02/26/e6ea0dd0-bd43-11e4-bdfa-b8e8f594e6ee_story.html|title=Engility, TASC complete $1.3B merger|last=Jayakumar|first=Amrita|date=2015-02-26|newspaper=Washington Post|access-date=2018-03-29|language=en-US|issn=0190-8286}} After the merger, the company announced that TASC's chief executive, John Hynes, had joined Engility as the chief operating officer. The TASC brand remained in operation as a subsidiary of Engility.{{Cite news|url=https://www.washingtonpost.com/business/capitalbusiness/in-tough-times-going-bigger-is-better-says-federal-services-provider-engility/2015/02/27/a644d5c4-bdf4-11e4-b274-e5209a3bc9a9_story.html|title=In tough times, going bigger is better, says federal services provider Engility|last=Jayakumar|first=Amrita|date=2015-03-01|newspaper=Washington Post|access-date=2018-03-29|language=en-US|issn=0190-8286}}
Operations
Since the spin-off from L-3, Engility has been based in Chantilly, Virginia, located in the Washington metropolitan area. In March 2013, Engility implemented a significant reduction in its auxiliary workforce, cutting about 40 percent of its accounting, human resources, and payroll departments, reducing its total of 7,800 employees by 4%.{{Cite news|url=https://www.washingtonpost.com/business/capitalbusiness/engility-reshaping-for-tighter-times/2013/03/22/cbde62ae-8c06-11e2-b63f-f53fb9f2fcb4_story.html|title=Engility reshaping for tighter times|last=Censer|first=Marjorie|date=2013-03-24|newspaper=Washington Post|access-date=2018-03-29|language=en-US|issn=0190-8286}} After the merger with TASC in early 2015, however, the company was estimated to employ about 11,000 people, of which 4,000 are located near the nation 's capital.
As of March 2016, the Engility appointed a former Raytheon employee Lynn Dugle as chief executive.{{Cite news|url=https://www.reuters.com/article/us-engility-hldg-moves-ceo/engility-appoints-raytheon-co-executive-lynn-dugle-as-ceo-idUSKCN0W34M0|title=Engility appoints Raytheon Co executive Lynn Dugle as CEO|last=Ajmera|first=Ankit|date=March 1, 2016|work=Reuters|access-date=2018-03-29|language=en-US}} In June 2017, the company eliminated the positions of president and COO previously held by former-TASC CEO John Hynes, who also left the company at the same time.{{Cite web|url=https://washingtontechnology.com/blogs/editors-notebook/2017/06/engility-hynes-departure.aspx|title=Engility eliminates COO, president position|last=Wakeman|first=Nick|date=June 26, 2017|website=Washington Technology|language=en|access-date=2018-03-29}} That same month, the company won a contract from the US Air Force to consult on review and evaluation of the space vehicles and missile equipment located at Los Angeles Air Force Base.{{Cite news|url=https://www.defensenews.com/space/2017/06/16/engility-will-provide-consulting-for-us-air-force-space-programs/|title=Engility will provide consulting for US Air Force space programs|last=Williams|first=Paige|date=2017-08-08|work=Defense News|access-date=2018-03-29|language=en-US}} In November 2017, the US Navy granted Engility a modernization contract valued at $30 million.{{Cite news|url=https://www.defensenews.com/industry/2017/11/28/navy-awards-30m-modernization-contract-to-engility/|title=Navy awards $30M modernization contract to Engility|last=Richman|first=Jackson|date=2017-11-28|work=Defense News|access-date=2018-03-29|language=en-US}} In March 2018, Engility reported a revenue of $1.93 billion and net loss of $35.2 million in the previous year.{{Cite news|url=https://finance.yahoo.com/news/engility-holdings-reports-4q-loss-220716426.html|title=Engility Holdings reports 4Q loss|last=Associated Press|date=March 1, 2018|work=Yahoo Finance|access-date=2018-03-29|language=en-US}}
References
{{Reflist}}
External links
- [https://web.archive.org/web/20180806094741/http://www.engility.com/ Official website]
{{authority control}}
Category:Companies formerly listed on the New York Stock Exchange
Category:American companies established in 2011
Category:2011 establishments in Virginia
Category:2019 disestablishments in Virginia
Category:Companies based in Fairfax County, Virginia
Category:Defense companies of the United States
Category:Engineering companies of the United States