DigitalNet goes public
DigitalNet Holdings Inc., Herndon, Va., arrived on the stock market Oct. 13, with an initial public offering of 5 million shares that opened at $17 each and closed at $20.95, a 23.2 percent increase.
DigitalNet, a government systems integrator, originally planned to go public in May, but pulled the offering, citing market conditions. Media reports at the time also attributed the decision to DigitalNet's loss of two large government contracts.
Since then, the company rebounded with several contract wins, most notably a $200 million award in July from the Justice Department to design and implement a new IT network architecture.