Analex acquisition of ComGlobal Systems is done

Analex Corp. has completed its acquisition of ComGlobal Systems Inc. in a $47 million cash deal that adds software engineering and IT services capabilities to the Alexandria, Va., company.

Analex, a professional services company, and ComGlobal of San Diego primarily serve the federal government.

ComGlobal specializes in command, control, communications, computers and intelligence programs for the military. Its largest customer is the Navy's Tomahawk Cruise Missile Program.

With the ComGlobal acquisition, Analex has more than 1,100 employees, about 70 percent with security clearances. ComGlobal also extends Analex's presence in San Diego and San Jose, Calif., Las Vegas, Pascagoula, Miss., and Norfolk and Arlington, Va.

"The addition of ComGlobal is indicative of [Analex's] continuing commitment to its strategy of acquiring important and synergistic businesses serving classified U.S. agencies," said Sterling Phillips, Analex's chairman and chief executive officer.

ComGlobal was an employee-owned company and was looking for a company with a similar culture and commitment to customer support, said Frank Hewitt, ComGlobal's founder and CEO.

For its fiscal year ended June 30, 2004, ComGlobal had revenue of $39.4 million. Analex had 2004 revenue of $94.4 million.

BB&T Capital Markets/Windsor Group, a Reston, Va., investment banking firm, represented ComGlobal. The transaction is the eighth deal the firm has closed this year, said Richard Knop, senior managing director. A ninth deal is expected to close later this month.