SRA seeks to strike gold with Platinum purchase
Contractor will pay $90M for acquisition
- By David Hubler
- Oct 12, 2010
SRA International Inc. will pay approximately $90 million to acquire Platinum Solutions Inc., a privately held systems integrator and software developer for the federal government.
Platinum Solutions, based in Reston, Va., specializes in developing customized software applications and providing data management solutions for customers in the national security and civilian government arena.
Once the acquisition is completed, SRA will expand its mission systems capabilities, benefit from Platinum Solutions’ established delivery model for mission-oriented IT solutions, and obtain additional software integration and development qualifications with clients in national security, intelligence and civilian agencies, according to an announcement SRA made on Oct. 11.
“Platinum Solutions is a great fit for SRA,” said SRA President and CEO Stan Sloane in the statement. “Their software and system development capabilities and premier customer base strengthen the expansion of our complex systems business.”
Platinum Solutions' CEO, Laila Rossi, added that the acquisition will allow the company to further expand into U.S. government agencies.
“As an SRA business, Platinum Solutions will be a strong partner to a much broader customer base in the national security and health care markets,” she said. “SRA will provide us with the resources to accelerate our growth, broaden capabilities to serve our clients and enhance career opportunities for our staff.”
Stifel Nicolaus Weisel is acting as the exclusive financial adviser to Platinum Solutions on the transaction.
SRA International, of Fairfax, Va., ranks No. 30 on Washington Technology’s 2010 Top 100 list of the largest federal government contractors.
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.