Milbank LLP is advising Veritas Capital, a longstanding investor in companies operating at the intersection of technology and government, in connection with Huntington Ingalls Industries’ (NYSE: HII) definitive agreement to acquire Alion Science and Technology (“Alion”) for $1.65 billion in cash.
Alion provides advanced engineering and R&D services in the areas of ISR, military training and simulation, cybersecurity, data analytics, artificial intelligence and other next-generation technology-based solutions to the Department of Defense and intelligence community customers, with the US Navy representing about one-third of current annual revenues.
The transaction is expected to close in the second half of 2021, subject to customary closing conditions.
The Milbank deal team was led by Global Corporate partners Richard Presutti and Iliana Ongun with associate Lowell Dyer. The team also included Global Capital Markets partner Antonio Diaz-Albertini, Executive Compensation and Employee Benefits partner Mike Shah and Tax partner Max Goodman.
