SRA makes all-cash deal for Galaxy

SRA International Inc. signed a definitive agreement to buy Galaxy Scientific Corp. for an undisclosed amount in an all-cash deal, the company said yesterday.

Galaxy Scientific is a privately held company in Egg Harbor Township, N.J., that offers systems engineering, information technology and tactical communications services and solutions to the federal government. Its areas of expertise include command, control, communications, computers and intelligence tactical systems, information assurance and safety and security technologies.

Galaxy Scientific's federal clients include the Defense and Homeland Security departments and the Federal Aviation Administration. The company employs 450 workers and had revenue of approximately $90 million for the period ended April 3.

The acquisition will strengthen SRA's business sectors and enhance its geographical footprint, technical capabilities and customer portfolio, said Renny DiPentima, president and chief executive officer of SRA.

SRA expects the deal to close in late June or early July. BB&T Capital Markets/Windsor Group was the financial adviser to Galaxy for the transaction.

Fairfax, Va.-based SRA provides IT services and solutions to federal government agencies. It employs approximately 4,000 workers and had revenue of $615.8 million for the fiscal year ended June 30, 2004. The company is "No. 27 on Washington Technology's 2005 Top 100 list of prime federal contractors.

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