SRA to acquire Adroit
- By John Monroe
- Jan 05, 2003
SRA International Inc. has signed an agreement to acquire Adroit Systems Inc. for $40 million in cash, the company announced Jan. 3.
Alexandria, Va.-based ASI specializes in defense and intelligence business, including command, control, communications, computers, intelligence, surveillance and reconnaissance, logistics, knowledge management and intelligence analysis. The company, which has about 330 employees, had a net income of $2.2 million on revenue of $42.8 million for the fiscal year ended Sept. 30, 2002, according to SRA.
SRA plans to absorb all of ASI's current management team and operating divisions into its Command, Control, Communications, and Intelligence business unit.
As part of the transaction, ASI executives will buy about 170,000 shares of SRA stock. The transaction is expected to close by early February.