PAE to acquire Mass.-based tech company for $208M
Falls Church contractor to buy Centra Technology Inc.
Falls Church-based defense and government services contractor Pacific Architects and Engineers (PAE) announced Monday plans to acquire Burlington, Massachusetts-based Centra Technology Inc. for $208 million in cash.
“By acquiring Centra, PAE realizes a significant milestone in the execution of our strategic growth plan to be a provider of innovative, higher margin, knowledge-based offerings in attractive, resilient end markets,” PAE President and CEO John Heller said in a statement. “This exciting opportunity builds on our intelligence analysis capabilities while increasing customer access, accelerating growth and enhancing shareholder value.”
Centra provides intelligence analysis and is focused on mission-critical services for the intelligence community and other U.S. national and homeland security customers. The company employs more than 760 people, most of whom hold top secret security clearances. PAE also provides mission support services to government clients. The company employs more than 20,000 workers across its operations in 60 countries and reported more than $2.7 billion in revenue last year.
“This transaction will further enhance Centra’s capabilities and create new opportunities for our customers and employees,” Centra Chief Operating Officer Jack Barry said in a statement. “The customers, contracts and offerings of each business complement each other well and will be attractive for all stakeholders.”
The transaction was unanimously approved by both companies’ boards of directors and is expected to close during the fourth quarter of this year.
PAE used Morgan, Lewis & Bockius LLP as a legal adviser and Renaissance Strategic Advisors LLC acted as a strategic adviser for the transaction. Centra used Greenberg Traurig LLC for legal advising and Citizens Capital Markets Inc. for financial advising.