SI International goes public

SI International Inc. hit the public stage Nov. 12, when its stock began trading on NASDAQ.

Using the symbol SINT, the McLean, Va., company pegged its opening price at $14 per share, and issued 4.35 million shares of common stock. At the closing bell on the first day of trading, SI International remained at $14.

SI International was founded in 1998, and now employs more than 1,200 people. It had $146.6 million in revenue in 2001. The company provides IT and network solutions primarily to the federal government, including the Air Force Space Command, Army, departments of State and Energy, the intelligence community and the Immigration and Naturalization Service.

SI International holds a spot on numerous government contracts, including several with the General Services Administration, blanket purchase agreements through the Air Force's Information Technology Services Program II and the Treasury Department's Information Technology Support Services contracts, and several governmentwide acquisition contracts.

SI International intends to use the net proceeds from the IPO to pay off debt and repurchase outstanding warrants, according to its filings with Securities and Exchange Commission. Any remaining funds would be allocated to other general purposes, including possible future acquisitions, the company stated.

Wachovia Securities and Legg Mason Wood Walker served as the co-lead managing underwriters of the offering, with BB&T Capital Markets serving as a co-manager.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here


  • POWER TRAINING: How to engage your customers

    Don't miss our Aug. 2 Washington Technology Power Training session on Mastering Stakeholder Engagement, where you'll learned the critical skills you need to more fully connect with your customers and win more business. Read More


    In our latest Project 38 Podcast, editor Nick Wakeman interviews Tom Romeo, the leader of Maximus Federal about how it has zoomed up the 2019 Top 100. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.