L-1 snaps up Advanced Concepts
- By Doug Beizer
- May 02, 2007
L-1 Identity Solutions Inc. will acquire Advanced Concepts Inc., a provider of information technology services to the U.S. intelligence and military communities, for $71.5 million cash.
The acquisition of Columbia, Md.-based ACI will provide L-1 with access to a wider customer base within the U.S. government and will add a greater depth of services, L-1 said.
ACI had revenues of $45 million in 2006. The company specializes in IT, network security solutions and systems engineering and development services.
L-1 expects ACI's growth to be consistent with L-1's model of 20 percent organic growth.
"As part of L-1, we will have the size, depth and experience to capture the larger programs and enable ACI to provide our customers with more capabilities and offer our employees more career opportunities," said John Register, president of Advanced Concepts Inc.
More than 80 percent of ACI's approximately 300 employees have top secret and higher security clearances and an average 23 years of experience supporting contracts for U.S. national security.
Following the acquisition, ACI will operate as a division of L-1 Identity Solutions and maintain its current operations and headquarters. The transaction is expected to close during the second quarter ending June 30, 2007.
Doug Beizer is a staff writer for Washington Technology.