M & A Roundup
ManTech makes a big deal
ManTech International Corp., of Fairfax, Va., will acquire privately held SRS Technologies Inc. for $195 million in cash. It is ManTech's largest deal in its 39-year history.
SRS, of Newport Beach, Calif., will expand ManTech's presence in the national security marketplace by providing advanced capabilities in command, control, communications, computers, intelligence, surveillance and reconnaissance; systems engineering; modeling and simulation; and other advanced technology services and solutions.
The purchase price includes a $36 million escrow account that will be available to pay off indemnification claims for three years. If unused, the money will go back to shareholders, said Joe Cormier, a ManTech spokesman.Deloitte picks up consulting firm
Deloitte and Touche LLP has acquired the assets of a consulting firm that specializes in enterprise resource planning solutions for the intelligence community.
Deloitte, of New York, picks up 25 people from the firm, TI Consulting, which will help Deloitte expand its ERP customer base within the intelligence agencies and the Defense Department. The companies did not disclose the financial terms of the deal.
TI's formal name is Technology Innovations Inc. It was founded in 1997. Its founder and president, Karen Druffel, is joining Deloitte's federal practice as a principal.
The company will continue operating out of TI's headquarters in Elkridge, Md.Alliant goes for Swales
Alliant Techsystems Inc., of Minneapolis, will acquire Swales Aerospace Inc., a provider of engineering services and satellite components and subsystems to the government and commercial sectors. The companies did not disclose terms of the deal.
The purchase is aimed at making Alliant Techsystems a major provider of satellite components, subsystems and small spacecraft, in addition to advancing the company's goal of becoming a major partner in government and industry space programs, officials said.
The company expects to gain more than $100 million in additional revenue in fiscal 2008 as a result of the acquisition. Swales, of Beltsville, Md., reported revenue of $193 million in 2005.Stanley buys Techrizon
Stanley Inc., of Arlington, Va., acquired Techrizon LLC, a provider of software, training, simulation and information security solutions, in a move designed to strengthen its offerings to military customers.
The companies did not disclose terms.
The acquisition reinforces Stanley's strategy of expanding its presence in markets that will benefit from the base realignment and closure process.
Techrizon, of Lawton, Okla., has annual revenues of about $29 million and 300 employees.