New year opens with several purchases

SI reels in DHS contractor

SI International Inc. plans to spend $75 million to buy Shenandoah Electronic Intelligence Inc., a Harrisonburg, Va., company with strong ties to the Homeland Security Department.

SEI, which provides business process outsourcing services, had about $73.9 million in revenue for the 12 months ended Sept. 30 and operating profit of about

$9.5 million.

The acquisition will deepen the company's presence at DHS and add complementary capabilities in business process outsourcing, said Ray Oleson, chairman and chief executive officer of SI International. The deal is expected to close in the next 30 to 60 days.

Software AG buys developer

Software AG has bought Israeli software company Sabratec Ltd. for $11 million to expand its legacy modernization capabilities.

Software AG of Darmstadt, Germany, paid $7 million in cash and will pay an additional $4 million to investors through 2008. The purchase gives Software AG ApplinX, Sabratec's software that helps organizations integrate legacy systems with service-oriented architectures. The deal includes Sabratec's sales and marketing unit in the United States.

Software AG will retain all Sabratec's development and support staff in Israel and set up a Software AG affiliate in that country.

SAIC sells off analysis unit
Science Applications International Corp. for an undisclosed amount has sold its content analysis product division and all related intellectual property to newly formed Content Analyst Co. LLC of Reston, Va.

The sale includes issued and pending patents on latent semantic indexing, a document indexing method.

Content Analyst, in which San Diego-based SAIC holds a minority interest, is funded by a private investment group and has designated SAIC as a reseller and preferred integrator of its products. The new company will further develop the content analysis technology.

Essex has plans for Windermere

Fast-growing optical electronics company Essex Corp. of Fredericksburg, Va., signed a letter of intent to buy Windermere Group LLC for an undisclosed amount.

The deal, subject to due diligence, negotiation of definitive documents and closing conditions, is expected to close by April. Essex will give Windermere a $25 million bridge loan to buy the equity interest of a minority shareholder. The loan is repayable with interest if the acquisition is not completed by July 6.

The privately held Windermere, Annapolis, Md., has annual revenue of more than $64 million.

SYS Technologies purchases Antin

SYS Technologies Inc. of San Diego has bought IT services provider Antin Engineering Inc. for $2.6 million in cash and stock.

The acquisition will strengthen SYS Technologies' business capabilities in homeland security and public safety, the company said.

Antin, also of San Diego, posted revenue of $4 million for the nine months ending Sept. 20. It has access to several federal government schedule contracts and an active customer base that includes the military services and NASA.

FCBS buys Computer & Hi-tech

FCBS Inc., Fairfax, Va., is buying Computer & Hi-tech Management Inc. to create a $200 million a year government systems integrator. Both are former 8(a) companies. No financial details were disclosed.

Computer & Hi-tech Management of McLean, Va., provides IT and professional services to federal government customers, including the Agriculture and Health and Human Services departments, Census Bureau, Centers for Disease Control and Prevention, National Institutes of Health and the Navy.

Computer & Hi-tech Management is FCBS' second acquisition in the past 18 months.

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