Anteon finishes ISI buy
- By Patience Wait
- May 28, 2003
Anteon International Corp. has completed the acquisition of Information Spectrum Inc., a provider of critical defense and homeland security solutions, Anteon announced May 28.
Under the terms of the agreement, Anteon purchased all of ISI's stock for an all-cash price of $90.7 million. Anteon financed the acquisition through its existing credit facilities. The company expects the transaction to add about 4 cents per share to 2003 earnings.
ISI, based in Annandale, Va., has more than 1,200 employees in 27 locations nationwide; its fiscal 2002 revenue was $130.5 million. The company is in the credential card solutions industry, and is the prime contractor for secure identification and access management solutions for the Department of Homeland Security's permanent resident card and the State Department's border crossing card programs.
ISI also provides mission-critical logistics, training and engineering solutions for the Naval Air Systems Command.
Anteon of Fairfax, Va., employs more than 7,000 people in more than 100 offices worldwide. The company reported revenue of $826 million in fiscal 2002.