Wireless networks company picks up HTS for $48.8 million
- By Patience Wait
- Jan 14, 2004
Wireless Facilities Inc. has bought High Technology Solutions Inc., a privately held company offering communications systems engineering and operational outsourcing services to federal agencies, for about $48.8 million.
The acquisition was completed Jan. 6. Both companies are headquartered in San Diego.
The acquisition furthers WFI's goal of expanding into the government market for communications systems design and integration and the outsourcing of technical services, including wireless-related IT systems and services, according to the company. WFI specializes in wireless telecommunications networks and security systems.
HTS, which was founded in 1990 as a technical outsourcing services provider to the Navy, had about $44 million in revenue for the 12 months ending Nov. 30, 2003. It has more than 80 contracts or task orders, and a backlog of more than $130 million.
Masood Tayebi, WFI chairman and chief executive officer, said opportunities in federal IT and communications networks, especially at the Defense and Homeland Security departments, are growing significantly.
"Recent industry reports estimate that there is some component of wireless related spending in more than half of all federal ? information technology spending," Tayebi said. "We believe that by acquiring a government contractor such as HTS, we can leverage our core competencies ? to take advantage of these opportunities within the federal government."
WFI reported 2002 revenue of $187 million. It has 1,300 employees in 11 offices worldwide.