SI International snaps up Logtec
Acquisition broadens federal footprint, expands logistics offerings
- By Doug Beizer
- May 24, 2007
SI International Inc. has agreed to acquire Logtec Inc., a program management and information technology services provider, for $59 million in cash.
The transaction is expected to be completed within the second quarter of 2007, SI International said.
The acquisition supports SI International's strategic growth plan to broaden its federal government client base and enhance its portfolio of solutions. The acquisition is expected to enable SI International to strengthen its relationships with several Defense Department organizations, such as the Air Force Materiel Command at Wright Patterson Air Force Base, Ohio.
Acquiring Logtec also strengthens SI International's service offerings in the area of logistics.
"The acquisition of Logtec would allow SI International to broaden its client base and enhance our portfolio of Rapid Response - Rapid Deployment service offerings particularly in the emerging area of logistics," said Brad Antle, SI International's president and chief executive officer.
Logtec, a privately held company headquartered in Fairborn, Ohio, provides logistics, acquisition and information technology support, primarily to the federal government in areas such as acquisition and program management, systems and network engineering and integration, software and Web-based application development, data management and warehousing, information assurance and training.
Logtec's largest clients are the Air Force Materiel Command and Naval Air Systems Command.
Logtec's revenues in 2006 were about $54 million. SI International expects to pay the purchase price with cash-on-hand and additional borrowings under its senior credit facility.
SI International of Reston, Va., has about 4,300 employees and had annual revenue of $462 million in 2006. The company ranks No. 42
on Washington Technology's 2007 Top 100 list
of the largest federal government prime contractors.
Doug Beizer is a staff writer for Washington Technology.