MTC continues on acquisition path
- By Roseanne Gerin
- Jun 29, 2004
MTC Technologies Inc. signed a definitive agreement to purchase Command Technologies Inc. in an all-stock deal, the company said today.
The transaction, subject to the completion of due diligence, is expected to close July 1.
Based in Warrenton, Va., CTI is a privately held company with 350 employees and approximately $36 million in revenue. It provides professional and technical services primarily to customers in the Defense Department and national security agencies.
MTC's last two acquisitions were in October 2003 when it bought Vitronics Inc. of Eatontown, N.J., for around $9.5 million and International Consultants Inc. of Dayton, Ohio, for $9.9 million, as part of its strategy to get new customers and broaden its technical footprint. Both companies provide technology-related services for the defense industry, mainly to support the U.S. Army.
MTC of Dayton, Ohio, provides systems engineering, IT, intelligence and program management services to the federal government. It employs more than 1,500 workers and had 2003 revenue of $188.7 million, around 95 percent of which came from customers in the Defense Department and intelligence community.