Perot Systems completes Soza acquisition
- By Patience Wait
- Feb 26, 2003
Perot Systems Corp. has completed its acquisition of Soza & Company Ltd., increasing its government services unit to more than 1,500 employees and more than $200 million in annual revenue.
Perot Systems, based in Plano, Texas, announced its plans to acquire the Fairfax, Va., systems integrator early in February. The acquisition closed Jan. 25. Perot Systems purchased Soza for $75 million in cash, plus up to $32 million in cash and stock if certain performance targets are met.
With the acquisition, Perot Systems gains a foothold with such federal agencies as the departments of Defense, Transportation, Agriculture, Health and Human Services, the Environmental Protection Agency and Coast Guard, as well as state and local governments.
"This further demonstrates our overall strategy to grow, both organically and through strategic acquisition, and serve as a leading provider of technology services and support to the public sector," said Greg Bedner, president of Perot Systems Government Services. "This acquisition provides us with an even broader platform from which to pursue those opportunities that make financial sense and utilize our collective abilities to deliver the highest quality of service to our existing and future customers."
Founded in 1988, Perot Systems Corp. entered the government sector with its July 2002 purchase of ADI Technology Corp., which it renamed Perot Systems Government Services.
Perot Systems employs more than 9,000 people, with revenue of $1.3 billion in fiscal 2002.