SI International purchased by UK company

August 31, 2008 by Dagpotter · Comment
Filed under: Acquisitions, England, SI International, Serco, U.S. Air Force 

Serco, a large service provider from the UK with worldwide operations, announced that it had purchased the US defense contractor, SI International. The $400 M deal expands Serco into the US defense market and represents another broadening of their market base. This continues the trend of European companies buying US ones in order to reach the large DoD budget here. By buying a US company many of the technology transfer and security requirements that impact foreign companies doing business can be minimized. SI International has 4,500 employees and primarily supports the US Air Force, an area that Serco does not do much business with.

The Guardian has the story here.

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ManTech reports well

July 30, 2008 by Dagpotter · Comment
Filed under: Earnings, IT 

ManTech is a second tier defense contractor that provides services and support to the US military. For the quarter ending in June ManTech reported income of $21.9 M. See a press release here. This was a substantial improvement over the same quarter in 2007. Much of the increase came from large IT support contracts for various services. There was also substantial business with classified contracts. Many of the defense contractors that have reported to date have done well over the last quarter.

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