$1.65 Billion Buyout of TASC Completed

Kohlberg Kravis Roberts and General Atlantic have completed their $1.65 billion LBO of Northrop Grumman's TASC unit. The company provides advanced systems engineering and advisory services to defense, intelligence and other federal agencies. It currently employs nearly 5,000 people and generates approximately $1.6 billion in revenue. Northrop Grumman was required to spin off its advisory business after a law was recently passed requiring the separation of companies advising the government and from those providing the government with products and services to prevent conflicts of interest.