SRA to acquire Spectrum Solutions Group
- By Roseanne Gerin
- Oct 13, 2005
SRA International Inc. signed a definitive agreement to acquire Spectrum Solutions Group Inc., the company said today. The terms of the deal were not disclosed, although SRA said the transaction should close within about one month.
Based in Vienna, Va., Spectrum Solutions Group is a privately owned company that provides enterprise solutions to the federal government. Its customers include the Health and Human Services and Homeland Security departments. The company employs more than 90 full-time workers and has generated revenue of about $15 million during the previous 12 months.
The acquisition will enhance SRA's capabilities in the enterprise resource planning market for the federal government as well as let the company provide services to customers who want to modernize, consolidate and combine their financial, human resources and supply chain management systems, said Renny DiPentima, SRA's president and chief executive officer.
Fairfax, Va.-based SRA provides IT services and solutions to federal government agencies. It employs about 4,600 workers and had revenue of $881.8 million for the fiscal year ended June 30. The company is No. 27 on Washington Technology's 2005 Top 100 list of prime federal contractors.