San Diego, California-based SAIC said the target firm’s 175 employees would join its logistics and engineering solutions business unit, and said the acquisition would add approximately $250 million to annual revenue.
Fairfield, New Jersey-based ProcureNet provides electronic procurement, logistics, and supply chain management services to the US Department of Defense as well as other federal and commercial customers.
SAIC is very active in the M&A markets. In November, it sold its communications software operation Telcordia Technologies Inc to private equity companies Providence Equity Partners and Warburg Pincus for $1.35 billion in cash.
In October, it acquired Fairfax, Virginia-based Presearch Inc, which provides a range of services for the US government including engineering, training and information systems support, and in August the company bought Trios Associates Inc, which specializes in providing services including computer engineering, development, and systems integration services.
