NCI makes public debut

NCI Information Systems Inc. of Reston, Va., makes its debut on Wall Street Monday with an initial public offering priced at $10.50 a share. The company is the first federal IT company to go public in nearly two years.

The company is selling about 5.2 million shares and plans to raise about $54 million. The money will be used to pay down debt and make acquisitions, according to its filings with the Securities and Exchange Commission.

The IPO is being led by four banks: Legg Mason Wood Walker Inc., Raymond James, Robert W. Baird & Co. and Stephens Inc.

NCI is ranked No. 92 on Washington Technology's 2005 Top 100 list. The company had 2004 revenue of $171.3 million and for the first six months of 2005 it had $93.5 million, according to its filing. About two-thirds of the company's business comes from defense and intelligence work. NCI provides services such as network engineering, information assurance, systems development and integration, and enterprise systems management.

The company was founded in 1989 by Charles Narang, who serves as company chairman and chief executive. Michael Solley, who helped MTC Technologies Inc. of Dayton, Ohio, go public in 2002, is the company's president.

About the Author

Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close

Trending

  • POWER TRAINING: How to engage your customers

    Don't miss our July 12 Washington Technology Power Training session on Mastering Stakeholder Engagement, where you'll learned the critical skills you need to more fully connect with your customers and win more business. Read More

  • PROJECT 38 PODCAST

    In our latest Project 38 Podcast, editor Nick Wakeman and senior staff writer Ross Wilkers discuss the major news events so far in 2019 and what major trends are on the horizon. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.