SRA International, Veridian go for IPOs

David Langstaff, Veridian's president

Systems integrators SRA International Inc. and Veridian Corp. each have filed with the Securities and Exchange Commission for initial public offerings of common stock, the companies said in separate announcements March 6.

Neither company has set its initial share price or the date the company will go public.

Arlington, Va.-based Veridian is seeking to raise $175 million through the IPO, the company said. All of the shares are being offered by Veridian. The company has more than 5,000 employees and annual revenue of $650 million, according to Hoover's Online of Austin, Texas.

Veridian provides information technology systems, integrated solutions and services. The company specializes in national security programs for the intelligence community, the Department of Defense, law enforcement and other U.S. government agencies.

Veridian's capabilities include network security and enterprise protection; intelligence, surveillance and reconnaissance; knowledge discovery and decision support; chemical, biological and nuclear detection; network and enterprise management; and systems engineering services.

Veridian's underwriting group is being led by Credit Suisse First Boston Corp. of New York. The co-managers of the IPO are Wachovia Securities Corp., CIBC World Markets Inc. and SG Cowen Securities Corp.

The underwriting group for Fairfax, Va.-based SRA International consists of Salomon Smith Barney Inc., UBS Warburg LLC, Legg Mason Wood Walker Inc., Raymond James and Associates Inc., Adams, Harkness & Hill Inc. and BB&T Capital Markets of Scott & Stringfellow Inc.

SRA and some of its stockholders will offer shares, the company said. SRA provides IT services and solutions to the federal government, specializing in national security, health care and public health and civil government. Its services includes systems engineering; systems design, development and integration; and outsourcing and operations management.

The company has about 1,700 employees and 2001 sales of $312.5 million, according to Hoover's Online.

About the Author

William Welsh is a freelance writer covering IT and defense technology.

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