Technology

CHC unloads federal subsidiary

Services provider Computer Horizons Corp has completed the sale of its RGII Technologies Inc federal subsidiary to Netstar-1 for $15.3m in cash, minus an asset adjustment of $1.2m.

CBR Staff Writer October 1, 2006

The company has been exploring strategic alternatives for the different parts of it business ever since a group of shareholders mounted a board takeover a year ago. The RGII sale will result in a $4.6m loss for the third quarter, CHC said in a statement.

NetStar-1 is a private services firm specializing in the network, applications, security and server/storage areas. With the RGII under its belt, combined revenue should be around $100m, according to the CHC statement.

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