GTEC acquires SGS for $52.5 million
- November 5, 2010
Global Defense Technology & Systems Inc. (GTEC) entered into a definitive agreement with Signature Consultants LLC to acquire its subsidiary, Signature Government Solutions LLC (SGS), for $52.5 million in cash.
SGS, headquartered in Herndon, was founded in 2003. The company employs 220 workers in Northern Virginia and the Fort Meade, Md., area. SGS expects to generate $37 million in revenue in 2010.
The deal is expected to be immediately added to GTEC’s diluted earnings per share and to close in the fourth quarter of 2010.