GTEC adds second acquisition in two months
Company to buy Signature Government Solutions for $52m in cash
- By David Hubler
- Nov 05, 2010
Global Defense Technology & Systems Inc. will purchase Signature Government Solutions LLC, a subsidiary of Signature Consultants LLC, for $52.5 million in cash.
SGS provides sophisticated information technology, cybersecurity and intelligence analysis services for high-priority mission systems and cybersecurity programs in the intelligence community, according to a Nov. 4 GTEC announcement.
The Herndon, Va., company was founded in 2003 and has a substantial operation in the Fort Meade, Md., area.
All of its more than 220 full-time employees hold Top Secret/Sensitive Compartmented Information clearances or higher.
SGS Executive Vice President John Stolberg will stay and lead the business for GTEC.
The company is expected to generate $37 million in revenue in 2010 with strong growth prospects for 2011 and beyond, the GTEC statement said.
GTEC is a provider of mission-critical, technology-based systems, solutions and services for national security agencies and government organizations that include the Defense and Homeland Security departments, the intelligence community and federal law enforcement agencies.
The addition of SGS adds new depth to GTEC’s capabilities and customer footprint in the intelligence community, especially when combined with the cyber and intelligence expertise brought through the acquisition of Zytel Corp. last month, John Hillen, GTEC president and CEO, said in the announcement.
GTEC has secured commitments for a $100 million revolving credit facility to finance the transaction, which will replace the current $50 million revolving credit facility, the announcement added.
The deal is expected to close during the fourth quarter of 2010.
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.