New York — General Dynamics, the maker of Abrams tanks and nuclear submarines, is making a record bet on reinvigorating its information-technology business. The US defence contractor agreed to buy CSRA for about $6.8bn to expand its computer-services offerings for government agencies and military customers. CSRA holders will receive $40.75 a share in cash, General Dynamics said in a statement on Monday, a 32% premium over the closing price at the end of last week. The acquisition will make General Dynamics the No 2 provider of federal IT services, trailing only Leidos Holdings. CSRA, which provides services such as cybersecurity and data analytics, gives General Dynamics more heft as defence spending rises under President Donald Trump and computer-technology contracts get bigger and more complex. "What we’re doing with this transaction is taking our good GDIT business and making it better, stronger, a more viable competitor," General Dynamics Chief Executive Officer Phebe Novakovic ...
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