DRC to acquire High Performance Technologies Inc. for $143 million
- June 9, 2011
Massachusetts-based Dynamics Research Corp. has signed an agreement to acquire privately-held High Performance Technologies, Inc., (HPTi) a Northern Virginia provider of technology services, primarily to the federal health-care and military technology markets.
HPTi reported revenue of $90 million in 2010. Nearly 80 percent of its sales align with DRC’s target growth markets, including health care, cyber security, intelligence and homeland security. HPTi has about 440 employees located primarily in the Washington, D.C., region, with principal offices in Reston and the Ballston area of Arlington. DRC said Thursday that the new base of operations for its federal group will be an office in the Clarendon Square Building in Arlington.
Terms of the merger agreement include a cash price of $143 million with closing anticipated for June 30.