UPDATE: Engility Shareholders Approve Acquisition of TASC

Engility Holdings, Inc.

, announced that its common shareholders overwhelmingly approved the acquisition of TASC at its special meeting of shareholders held earlier today. Of the outstanding shares represented at today's special meeting, approximately 99% voted in favor of the adoption of the acquisition agreement. The approval of the transaction by Engility's shareholders was one of the final conditions to the closing of the acquisition. Subject to the satisfaction or waiver of all closing conditions related to the acquisition, Engility expects the transaction to close on February 26, 2015. Engility shareholders that hold their shares through the closing date of the transaction will receive a special cash dividend, which currently is expected to be approximately $11.43 per share for each Engility share they own, subject to final adjustments depending on Engility's diluted share count at time of closing. Upon closing of the transaction, the combined company will maintain the Engility Holdings, Inc. name and continue to be traded on the New York Stock Exchange under the ticker symbol "EGL". "We are extremely pleased that our shareholders have recognized the compelling strategic and financial rationale for this transaction," said Engility President and CEO Tony Smeraglinolo. "We expect the TASC acquisition to accelerate our growth strategy, which is focused on further diversifying our customer base, adding substantial scale to our business, broadening our capabilities and increasing our addressable market. We welcome the addition of TASC's outstanding employees and their prestigious portfolio of served markets to our business and believe it will be a transformational combination for both companies and the industry."