Touchstone buy bolsters SRA consulting

SRA International Inc. signed a definite, all-cash deal to purchase Touchstone Consulting Group Inc., the company said today.

SRA did not disclose financial terms of the transaction, which is expected to close by the end of April.

Washington-based Touchstone is a privately owned management consultancy that works with the federal government. Its federal clients include the Defense and Homeland Security departments, the Office of Management and Budget and the intelligence agencies. The 14-year-old company employs approximately 135 workers, 60 percent of whom hold security clearances. Touchstone posted revenue of about $27 million for the 12 months ended March 31.

Touchstone's "focus on strategic consulting to the most senior officials in government compliments our high-end, full lifecycle information technology services," said Renny DiPentima, SRA's chief executive officer. "They are the premier provider of management consulting services to the government, and we believe that we can offer more value to the clients of both firms."

Fairfax, Va.-based SRA offers IT services and solutions to federal government agencies. It employs approximately 3,900 workers and had revenue of $615.8 million for the fiscal year ended June 30, 2004. The company is No. 31 on Washington Technology's 2004 Top 100 list of prime federal IT contractors. The 2005 Top 100 list will be published May 9.

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