What’s in the $4.9B contract?
The Chicago-based company that designs and installs software for the government and public agencies is being purchased by a private company for $4 billion.
The company has worked on several projects, including a major software upgrade for the state’s health care system and the construction of a $1.9 billion new police station.
It’s not clear whether the contract will include a contract to manage the public-sector IT system, which is one of the company’s strengths.
The deal was announced Thursday by the Chicago Board of Education, which oversees the city’s public schools.
The $4,865-million deal includes $1,200 million in cash and a $400 million loan guarantee from the federal Department of Education.
The city’s top financial planner says the new management team will have a “significant” impact on the city.
The Chicago Teachers Union has said the school district needs to take steps to create a system that supports teachers.