Vectrus To Acquire Zenetex

(RTTNews) - Vectrus Inc. (VEC) said that it agreed to acquire Zenetex, a provider of technical and strategic solutions focused on enabling mission readiness, performance, and enhanced protection for defense and national security clients globally. The transaction is valued at about $112 million, net of $11 million of expected tax benefits.

For 2020, Zenetex is expected to generate revenue of over $200 million.

Vectrus expects the transaction to be accretive to its 2021 adjusted earnings per share and adjusted EBITDA margin. It expects to close the deal in 2020, subject to customary closing conditions.