CACI to Buy Tech Firm Azure Summit in $1.28B Deal to Boost Military Business

Reston, Va.-based IT services provider powerhouse CACI International Inc. on Monday announced its intention to purchase military tech firm Azure Summit in an all-cash $1.28B deal.

CACI is a $7.7 billion company already well steeped in the national security business by offering IT solutions. It currently employs 24,000 people. Azure Summit works with the US Department of Defense (DoD) offering a portfolio of high-performance radio frequency technology.

CACI CEO John Mengucci said the companies would combine their efforts to create a stronger company to face growing national security threats. “Azure Summit’s core capabilities and technology bolster CACI’s market-based strategy by expanding our offerings in intelligence, surveillance, and reconnaissance (ISR), electronic warfare (EW), and signals intelligence (SIGINT) across multiple domains, platforms, and customer sets,” Mengucci said in a statement.

He added, “In an environment of escalating global threats, the employees of both CACI and Azure Summit are culturally aligned…”

Azure Summit was founded in 2007 and has locations in Fairfax, Va. and Melbourne, Fla. The company in 2022 was awarded a 5-year, $697 million contract to outfit US Navy ships. It has multiple DoD contracts. CACI said it expects Azure Summit to contribute up to $440 million in revenue in the first 12 months.

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Thomas Green, Azure Summit’s president and CEO, said the companies are a good fit. “The alignment between our cultures, technology and engineering heritage will drive continued innovation and growth under CACI leadership in the future,” he said in a statement.

CACI expects to realize a tax benefit over the next 15 years of $194 million from the deal. The companies expect to close the deal in the second quarter of fiscal 2025, pending regulatory approval.