Mergers and Acquistions News
Categories: IT Services & Consulting
August 29th 2008, 17:29PM
Service technology firm Serco has announced details of its latest acquisition activity.
The company, which serves sectors ranging from defence to healthcare, is to acquire SI International, a Nasdaq-listed firm that provides technology and information services solutions to the US Department of Defence and government agencies.
Valuing the company's diluted share capital at $423 million (£231 million), the agreement will see Serco offer SI $32 a share and represents a premium of 40 per cent on the closing price of August 26th.
Christopher Hyman, chief executive of Serco, said that the acquisition will "significantly expand" its operations in the US.
"The management and employees of both our organisations have a strong track record and shared commitment to delivering critical services to the US government," he continued.
Serco recently announced in its interim results for 2008 that it has recorded revenue growth of 10.5 per cent.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- May 2012 (0)
- April 2012 (0)
- March 2012 (0)
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)