EDO closes intel deal
- By Nick Wakeman
- Sep 15, 2006
EDO Corp. has doubled its intelligence business with the acquisition of Impact Science and Technology Inc.
The company, which had 2006 revenue of $63 million, provides signals intelligence systems and analysis support to intelligence agencies and advanced countermeasures and electronic-attack systems to the Defense Department and other agencies, EDO officials said. The company has about 200 employees.
EDO of New York is paying $124 million for IST of Nashua, N.H., but the net value of the deal is $113 million, when IST's cash balance is included.
"The acquisition of IST doubles the scope of our business with the intelligence community and adds important new technologies," said EDO CEO James Smith. "These include advanced radar countermeasures, electronic attack and electronic intelligence systems, software products, and systems engineering and analysis services."
The acquisition is EDO's third in the intelligence arena since mid 2005, the company said.
EDO employs 4,200 and had revenues of $648
million in 2005. The company is ranked No. 45
on Washington Technology's 2006 Top 100
list of the largest government IT contractors.
Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.