Fairfax, Virginia-based SRA provides consulting, systems design and integration, and outsourcing services to clients in the national security healthcare and civil government sectors, and has expertise in data mining, disaster recovery planning and systems management. In its third quarter ending September 2002, SRA more than quadrupled its net profit to $5m on sales that grew 31% to $101.5m, and it currently has 2,100 staff.
Privately-owned Adroit Systems is based in Alexandria, Virginia, and makes 90% of its revenue from providing engineering and management services to the US Department of Defense and the intelligence community. It specializes in providing C4ISR services (covering command, control, communications, computers, intelligence, surveillance and reconnaissance) as well as knowledge management and intelligence analysis.
In the year to September 2002, Adroit Systems made a net profit of $2.2m on revenue of $42.8m. The company currently has 330 employees, of which 80% hold security clearances. Under the terms of the deal, ASI will buy approximately 170,000 shares of SRA Class A common stock based on an average closing stock price. The stock will be unregistered and restricted by a six-month lock-up. The deal is dependent on approval from Adroit’s shareholders, but is expected to close by early February 2003.
During the third quarter, SRA captured contracts with the Environmental Protection Agency, the Defense Missile Defense Agency and the Food and Drug Administration, as well as securing eleven deals in the area of homelands security worth a combined $6.7m, covering business continuity, network management and crisis management.
Source: Computerwire
