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  • Thursday, April 18, 2024

Salient to Buy IT, Intel Analytics Firm ATS for $73M

Salient Federal Solutions agreed to acquire McLean, Va.-based information technology firm ATS Corp. for nearly $73 million cash, or $3.20 per share.

Salient said it will start the tender offer no later than Feb. 28 and expects the tender to close either late in the first quarter or early in the second quarter of fiscal year 2012.

Salient said it will finance the transaction through equity capital commitments and debt financing.

Both boards of directors of Salient and ATS unanimously approved the transaction.

ATS provides IT, engineering and intelligence analytics services to federal agencies in the intelligence, defense, homeland security and cyber communities.

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