M & A roundup
KBR adds three business units
KBR Inc., of Houston, created three new business units to maximize future business opportunities, the company said. Tim Challand is president of the new Technology unit, overseeing the company's intellectual property assets.
John Quinn, chief executive officer of KBR subsidiary M.W. Kellogg Ltd. in Greenford, England, was named president of the hydrocarbon market business unit, called Downstream.
David Zimmerman will be president of the Services unit, which encompasses industrial and maintenance services. He was previously senior vice president of engineering, procurement, construction and services at KBR.Forsythe grabs IT security firm
Forsythe Solutions Group Inc. bought Information Security Technology Inc., of St. Paul, Minn. Terms of the deal were not disclosed.
IST, which supplies information security solutions, will operate as a wholly owned subsidiary of Forsythe.
The acquisition will allow Forsythe, of Skokie, Ill., to expand its information security offerings. The company's Rockville, Md., federal unit has contracts with the Air Force, Navy and Defense Department.MPC to buy Gateway unit
MPC Corp., of Nampa, Idaho, plans to buy Gateway Inc.'s Professional business unit in a deal worth about $90 million. The move will strengthen MPC's federal, state and local government sales and its business in the education market.
Acer Inc., of San Jose, Calif., is buying the rest of Gateway and will continue to make and sell computers under that name, mostly in the consumer market.CM Equity recapitalizes PSS
CM Equity Partners, of New York, has led a capital restructuring of Preferred Systems Solutions Inc., a government IT, engineering and program management firm in McLean, Va.
PSS founder Rob Hisel will continue as chairman of the company. Scott Goss, who has been acting as an executive consultant to the company, will take over day-to-day operations as chief executive officer.
The value of CM Equity's investment was not disclosed.