Anteon Grows With Sherikon Purchase
Anteon Grows With Sherikon Purchase<CR>
By Nick Wakeman, Senior Editor
OCT. 23 ? Systems integrator Anteon Corp. of Fairfax, Va., is acquiring Sherikon Inc., a provider of technology solutions and services based in Chantilly, Va.
Terms of the deal were not disclosed, but Anteon is picking up an additional $65 million in annual revenue and 750 employees. The acquisition will push Anteon past $600 million in annual revenue.
"The acquisition of Sherikon is an important strategic milestone for us as we continue to build Anteon," said Joseph Kampf, president and chief executive of Anteon. "Together with our organic growth, Anteon's successful track record in the acquisition arena has put us on very competitive footing with the largest solution providers in the federal IT market."
Anteon holds several major IT services contracts such as GSA's Millennia and Millennia Lite contracts, and has customers that cover a variety of defense agencies, the military services, and civilian agencies.
Sherikon will operate as a business unit of Anteon. Sherikon's capabilities include information technology, telecommunications, engineering, health services, training and simulation and logistics. The company counts among its customers defense, federal civilian and state and local government agencies.
"I believe that being part of a much larger corporation, well-known for its quality and customer focus, should improve our ability to bid and win the ever-larger contracts that are a part of our market environment," said Stephen Wilkes, Sherikon CEO.
Anteon also has a second deal in the works. In an earlier interview, Kampf said he was negotiating the acquisition of a company that provides electronic government and enterprise resource planning services. The deal could be completed in less than a month.