Perot Systems, ManTech make acquisitions

Perot Systems Corp. of Plano, Texas, has formed a government services unit through the acquisition of government consulting and information technology service provider ADI Technology Corp., Perot Systems announced July 2.


Also making an acquisition this week was ManTech International Inc., Fairfax, Va., which signed a definitive agreement to acquire Aegis Research Corp., a provider of enterprise protection strategies and technical services to the federal national security community.


In the Perot Systems deal, the company will acquire ADI for approximately $32 million in cash, plus up to $15 million in cash and stock of Perot Systems if certain performance targets are met.


ADI is a professional services company that provides technical, information and management disciplines to the defense, intelligence and law enforcement communities. ADI's revenue for 2001 was $67 million. For the first five months of 2002, ADI's revenue was $30 million. Greg Bedner, chief executive officer of ADI, will lead the new Perot Systems government services unit.


"For more than a year, Perot Systems has been searching for the right firm to serve as the cornerstone of our government practice," said Ross Perot Jr., president and CEO of Perot Systems. "ADI is this cornerstone, a company that for the past 15 years has blended exceptional technical expertise and strong customer commitment across several critical federal functions."


Perot said the company will continue to make acquisitions to improve long-term growth.


On July 1, ManTech announced an agreement to acquire Aegis Research for $70 million in cash plus purchase price adjustments to be finalized after closing. The transaction is expected to close around July 31.


Aegis Research supports customers and programs within the Defense Department and national intelligence community, including the National Reconnaissance Office, Air Force, Joint Strike Fighter Program Office and the Counterintelligence Field Activity Program.

Aegis Research also supports numerous other classified customers on special access programs. More than 90 percent of Aegis Research's approximately 500 employees hold top-secret government security clearances.


Aegis Research provides expert technical support services in information operations; information security; threat analysis, characterization, countermeasures and risk management; mission planning and simulation; security implementation and operations security; enterprise protection planning; and security awareness and training.


"We are extremely pleased to have reached an agreement, as Aegis Research occupies a very unique and important market niche within the defense and intelligence community," said George Pedersen, chairman, CEO and president of ManTech International.


"Aegis Research is one of a very limited number of companies with the requisite technical skills, security clearances and experience to support national priority classified programs for a broad range of customers," said Evan Hineman, ManTech's executive vice president and former deputy director for science and technology at the Central Intelligence Agency.


ManTech will fund the acquisition using proceeds from its initial public offering, completed in February. Aegis Research's 2002 revenue is expected to be approximately $60 million.