NCI to purchase Computech for $56 million
Federal IT contractor NCI Inc. announced Tuesday it has entered into an agreement to purchase Computech Inc. for $56 million in cash.
The acquisition is expected to close Jan. 1. The deal will be funded through a combination of cash on hand and borrowings under NCI's senior credit facility.
Computech, headquartered in Bethesda, Md., has 170 employees mostly working in the Washington, D.C. area. Computech specializes in software development and IT operations and maintenance for federal civilian customers, including the Federal Communications Commission, Department of Homeland Security, Executive Office of the President, Internal Revenue Service, U.S. House of Representatives and U.S. International Trade Commission.
“The acquisition of Computech is in line with NCI’s growth strategy, which calls for the development of new customers and service offerings both organically and through mergers and acquisitions,” Brian J. Clark, NCI’s president, said in a statement.
Computech expects to generate more than $40 million of revenue in its current fiscal year, ending December 31, 2014.