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Subsequent Events
6 Months Ended
Jun. 30, 2022
Subsequent Events [Abstract]  
Subsequent Events

NOTE 18 SUBSEQUENT EVENTS

Dividend

On August 3, 2022, the board approved a $0.14 per share cash dividend. The dividend will be paid on October 13, 2022 to shareholders of record as of the close of business on September 9, 2022.

Acquisition of SemanticBits

On July 13, 2022, the Company completed the acquisition of SemanticBits, LLC (“Semantic”), a 450-person Virginia limited liability company.  Originally founded in 2005, Semantic is a premier partner to U.S. federal health agencies for mission-critical digital modernization solutions, provides a full suite of scalable digital modernization services using open-source frameworks, including end-to-end agile scale development capabilities, cloud-native solutions, data analytics and human-centered designs. The acquisition is expected to provide synergies and scalabilities to support federal agencies with advanced IT solutions, digital modernization, and health expertise to solve complex challenges.  The purchase price was $220.0 million in cash, subject to post-closing working capital adjustments. The purchase was funded by the existing Credit Facility.  The acquisition will be accounted for as a business combination under Accounting Standards Codification (“ASC”) 805, Business Combination and the total purchase price will be allocated to the tangible and intangible assets acquired and liabilities assumed based on the fair value on the acquisition date of July 13, 2022, with the exception of contract assets and contract liabilities which will be measured in accordance with ASC 606, Revenue Recognition.  The Company expects to complete the preliminary purchase price allocation in the third quarter of the 2022 fiscal year.