SI International purchasing Matcom International
- By Patience Wait
- Dec 18, 2003
SI International Inc. plans to buy Matcom International Corp., giving it more information technology and engineering services capabilities in areas such as software development, enterprise systems, homeland defense, integration and training and logistics support.
Almost all of Matcom's work is for federal clients, including the departments of Defense, Homeland Security and Justice, the Air Force and the National Institutes of Health.
The $65.8 million cash deal that should close in the next two months, the companies said today.
Matcom, based in Alexandria, Va., was founded in 1983 and has about 500 employees.
For the 12 months ended Sept. 30, Matcom had about $70.4 million in revenue. In the company's fiscal 2003, which ended March 31, approximately 99 percent of Matcom's revenue came from work with the federal government. The company generated 78 percent of its revenue as a prime contractor.
Reston, Va.-based SI International reported 2002 revenue of just under $150 million. Founded in October 1998, the company has 1,300 employees.