Northrop maps out purchase of 3001 International
- By William Welsh
- Sep 10, 2008
Northrop Grumman Corp. plans to acquire 3001 International Inc., a provider of geospatial data production and analysis services. Financial terms were not disclosed.
The acquisition will significantly add to the defense and technology giant's geospatial capabilities and enable it to expand its business in that area, company officials said today.
The acquisition of Fairfax, Va.-based 3001 will strengthen Northrop Grumman's capabilities in data collection, processing and production, they said. These capabilities are critical to a number of civilian and government agencies at home and abroad.
The geospatial company's federal customers include the National Geospatial Intelligence Agency, Army Corps of Engineers, Naval Facilities Command and Agriculture Department.
Bart Bailey, 3001's chief executive officer, will continue to lead the organization after it becomes part of Northrop Grumman.
The transaction is expected to close in the fourth quarter of 2008.
3001 is jointly owned by its management and CM Equity Partners, a New York-based private equity investment firm specializing in private, middle-market companies that serve the federal government.
Northrop Grumman, of Los Angeles, ranks No. 3
on Washington Technology's 2008 Top 100 list
of the largest federal government prime contractors.
William Welsh is a freelance writer covering IT and defense technology.