Veridian Extends Buying Spree

Veridian Extends Buying SpreeVeridian Corp. has zeroed in on its third acquisition in four months.The Alexandria, Va.-based information technology services company signed a letter of agreement July 8 to buy MRJ Technology Solutions of Fairfax, Va. MRJ specializes in network systems, simulation and modeling services and engineering analysis.Terms of the acquisition were not disclosed, but MRJ has annual revenue of about $130 million, which is expected to boost Veridian's 1999 revenue to $620 million. The deal should close this fall.Like the two other acquisitions Veridian has made this year, MRJ is expected to strengthen Veridian's customer base, particularly in the intelligence community.Since February 1998, Veridian has made six acquisitions, adding $390 million in annual revenue to its top line. "We are assembling the leading technologies, knowledge and reputations in the market today, so that Veridian can set the leadership standard tomorrow," said David Langstaff, Veridian's chief executive officer.MRJ has 800 employees and operations in Denver; Orlando, Fla.; Sunnyvale, Calif.; and Tucson, Ariz. Veridian will have 4,500 employees once the acquisition is finalized.