Anteon finishes ISI buy
Anteon International Corp. completed the acquisition of Information Spectrum Inc., a provider of critical defense and homeland security solutions.
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 of 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. It 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.