Perot Systems makes deal for DOE supplier
- By Roseanne Gerin
- Jul 19, 2005
Perot Systems Corp. has purchased safety, environmental and engineering services company PrSM Corp. for $7.2 million in cash, the company said today.
The acquisition allows Perot Systems Government Services to provide a wider range of safety and engineering services to the Energy Department and expand its offerings in other markets such as the Defense Department and NASA.
Based in Knoxville, Tenn., PrSM is an employee-owned company with 65 people. It posted 2004 revenue of $7.6 million. The company's biggest client is the Energy Department. PrSM also has offices in Paducah, Ky., Huntsville, Ala., and Los Alamos and Albuquerque, N.M.
"The government sector is a priority for us, and we believe that adding the strong capabilities of PrSM Corp. will further strengthen our ability to serve government clients," Peter Altabef, president and chief executive officer of Perot Systems, said in a prepared statement.
The transaction is subject to approval by PrSM's shareholders.
Headquartered in Plano, Texas, Perot Systems employs more than 15,000 people worldwide and had 2004 revenue of $1.8 billion. Its government customers include the Defense and Homeland Security departments, civilian agencies and the intelligence community. The company is No. 50
on Washington Technology
's 2005 Top 100
list of federal prime contractors.