SI to acquire Matcom
- By Michael Hardy
- Dec 17, 2003
SI International Inc. has signed a definitive agreement to acquire Matcom International Inc., the information technology and engineering firm responsible for the Federal Retirement Thrift Investment Board's Thrift Savings Plan Web site.
SI wants to broaden its customer base and add to its portfolio of available solutions, according to officials. Matcom has 500 employees and 12 offices, including 10 in the United States. The company brings clients including the Defense Department, Air Force, Homeland Security Department, National Institutes of Health and Justice Department.
"Matcom is exactly the type of strategic acquisition we have been seeking," said Ray Oleson, chairman and chief executive officer of SI, in a statement. "Matcom brings us a complementary set of customers within both the federal government civilian agencies and the Department of Defense, and offers meaningful cross-selling opportunities. "
The deal is good for Matcom too, said President and CEO Louis Ray. "SI International is the perfect fit for our customers and employees," he said in a statement.
SI will pay $65.8 million in cash and up to $7.9 million more in subordinated notes to buy the company, under the terms of the agreement.