SI finishes purchase of DHS contractor
By
Nick Wakeman
SI International Inc. completed its $75 million acquisition of Shenandoah Electronic Intelligence Inc.
SI International Inc. of Reston, Va., today completed its $75 million acquisition of Shenandoah Electronic Intelligence Inc., a contractor with strong ties to the Homeland Security Department.
The deal was first announced Jan. 12. With the acquisition, SI picks up another $73.9 million in annual revenue and about 1,600 employees, of which 99 percent hold security clearances, SI said.
DHS outsources needs such as data and records management, applications processing, file and mail management, analytical support services and secure optical card processing to Shenandoah Electronic Intelligence, a Harrisonburg, Va.-based company.
Not counting the Shenandoah Electronic Intelligence acquisition, SI is projecting 2004 revenue to be between $256 million and $258 million, compared to $163.8 million in 2003.
SI International has acquired six businesses since 1999. It is ranked No. 66 on Washington Technology's 2004 Top 100 list of the largest federal prime IT contractors.
Investment bank Jefferies Quarterdeck represented Shenandoah Electronic Intelligence in the deal.