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Acquisitions
 12 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
Fiscal 2025
Applied Insight
On October 1, 2024, CACI acquired all of the equity interests of AI Corporate Holdings, Inc. and Applied Insight Holdings, LLC (Applied Insight) for purchase consideration of $314.2 million, net of cash acquired, subject to adjustments for working capital and certain other items. Applied Insight delivers proven cloud migration, adoption, and transformation capabilities, coupled with intimate customer relationships across the Department of Defense (DoD) and intelligence communities. The Company preliminarily recognized fair values of the assets acquired and liabilities assumed and allocated $217.5 million to goodwill and $95.2 million to intangible assets. The intangible assets consist of customer relationships of $84.3 million and technologies of $10.9 million, with an amortization period of eight and five years, respectively. The goodwill is primarily associated with future customer relationships and an acquired assembled workforce. Of the value attributed to goodwill and intangible assets, $248.6 million is deductible for income tax purposes. The Company funded the acquisition with cash on hand and borrowings under its debt instruments.
Azure Summit Technology
On October 30, 2024, CACI acquired all of the equity interests of Azure Summit Technology, LLC (Azure Summit) for purchase consideration of $1,310.2 million, net of cash acquired, subject to adjustments for working capital and certain other items. Azure Summit advances DoD mission outcomes with its portfolio of high-performance radio frequency technologies and engineering talent focused on the electromagnetic spectrum. The Company funded the acquisition with cash on hand and borrowings under its debt instruments.
The purchase price was allocated, on a preliminary basis, among assets acquired and liabilities assumed at fair value on the acquisition date, October 30, 2024, based on the best available information, with the excess purchase price recorded as goodwill.
As of June 30, 2025, the Company recorded measurement period adjustments increasing goodwill by $37.9 million, decreasing accounts receivable by $21.3 million, reducing technology intangible assets by $14.5 million, and reducing prepaid expenses and other by $1.8 million. The adjusted preliminary allocation of the total purchase consideration is as follows (dollars in thousands):
Accounts receivable, net$70,544 
Prepaid expenses and other current assets29,724 
Goodwill581,430 
Intangible assets635,000 
Property, plant, and equipment16,349 
Operating lease right-of-use assets9,607 
Other long-term assets211 
Accounts payable(16,182)
Accrued compensation and benefits(3,860)
Other accrued expenses and current liabilities(4,570)
Operating lease liabilities, noncurrent(8,062)
Total consideration$1,310,191 
The goodwill is primarily associated with future customer relationships and an acquired assembled workforce. All of the goodwill recognized is tax deductible.
The estimated fair value attributed to intangible assets of $635.0 million consists of customer relationships of $270.5 million and technologies of $364.5 million. The fair value attributed to intangible assets is being amortized over 10 to 20 years for customer intangibles and 20 to 25 years for technologies. The fair value attributed to the intangible assets acquired was based on assumptions and other information compiled by management, including independent valuations that utilized established valuation techniques.
Identity E2E
On April 3, 2025, CACI Limited acquired all of the equity interests of Identity E2E Limited (Identity E2E) for purchase consideration of $58.9 million, net of cash acquired, subject to adjustments for working capital and certain other items. Identity E2E provides specialized technology services in biometrics and cloud engineering to customers within the United Kingdom (U.K.). The purchase price includes $7.3 million of contingent consideration, which represents the acquisition date fair value recognized for up to $7.8 million of potential future earnout payments based on the achievement of certain profitability targets of the acquiree during the two-year period following the acquisition date.
The Company preliminarily recognized fair values of the assets acquired and liabilities assumed and allocated $50.1 million to goodwill and $10.2 million to intangible assets. The intangible assets are related to customer relationships and with an amortization period of 10 years. At June 30, 2025, the Company had not finalized the determination of fair values allocated to assets and liabilities, including but not limited to, accounts receivables, intangible assets, and goodwill. The goodwill is primarily associated with future customer relationships and an acquired assembled workforce. None of the values attributed to goodwill and intangible assets is deductible for income tax purposes. The Company funded the acquisition with cash on hand.
For the year ended June 30, 2025, combined post-acquisition revenues of Applied Insight, Azure Summit, and Identity E2E were $368.0 million, and total acquisition-related costs of $14.1 million were reported in indirect costs and selling expenses. Earnings and pro forma results of operations for these acquisitions are not material to the Company's consolidated results of operations.
Fiscal 2024
During fiscal 2024, the Company completed three acquisitions that enhance our capabilities and customer relationships. The aggregate purchase consideration was approximately $108.6 million, net of cash acquired, which includes initial cash payments, deferred consideration, and estimated contingent consideration. The Company recognized fair values of the assets acquired and liabilities assumed and allocated $70.0 million to goodwill and $40.1 million to intangible assets.
Fiscal 2023
During fiscal 2023, CACI Limited completed the acquisition of a business in the U.K. that provides software engineering, data analysis and cyber services to the national security sector. The purchase consideration was approximately $15.4 million, net of cash acquired. The Company recognized fair values of the assets acquired and liabilities assumed and allocated $14.9 million to goodwill and $2.0 million to intangible assets.