Perot buys into fed market
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., Alexandria, Va.
Perot is acquiring ADI for about $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 services to the defense, intelligence and law enforcement communities. ADI's revenue for 2001 was $67 million. Greg Bedner, ADI chief executive officer, will lead the new Perot Systems government services unit.
Ross Perot Jr., president and chief executive officer of Perot Systems, said the company will continue to make acquisitions to improve long-term growth.