Arlington-based CACI is buying L-3 Communications for $550M in cash. The deal helps CACI join the top tier of companies providing services to the federal government and adds $1B in annual sales. CACI can also bid on larger contracts and brings its M&A activity in the last year to $15B, reports the Wall Street Journal. CACI CEO Ken Asbury says the company has been pursuing L-3’s National Security Solutions unit for several years. The purchase is the second-largest deal for CACI since buying Six3 Systems for $820M in 2013. [WSJ]
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