Los Angeles tech firm buys McNeil Technologies
Cash purchase expands Aecom’s U.S. government business
- By David Hubler
- Aug 05, 2010
Aecom Technology Corp., a Los Angeles-based provider of professional technical and management support services for government and commercial clients, is acquiring McNeil Technologies Inc. from private equity firm Veritas Capital.
Under the terms of the agreement, McNeil stockholders will receive $355 million in cash, Aecom said in a statement today.
The transaction is expected to close in the fourth quarter of Aecom’s fiscal year 2010, subject to customary closing conditions, including necessary regulatory approvals.
McNeil, of Springfield, Va., has approximately 1,500 employees and provides mission-critical services to federal government clients in the Defense and Homeland Security departments, the intelligence community and other federal and municipal agencies.
“Our acquisition of McNeil Technologies expands Aecom’s U.S. government business and advances our strategy of positioning Aecom to participate in fast-growing markets,” said John Dionisio, Aecom president and CEO, in the statement.
“McNeil brings a unique expertise to Aecom in intelligence, information technology and cybersecurity – and diversifies our strong base of federal government relationships,” he said.
“Combined with our recent acquisition of SSI, Aecom now has a significant presence in this high-growth market – and we are well positioned to capture new growth opportunities,” Dionisio added.
Aecom acquired SSI Services in November 2009.
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.