CACI International (NYSE: CACI) has agreed to acquire McLean, Va.-based national security contractor Six3 Systems from private equity firm GTCR for $820 million in a move to grow CACI’s footprints in the cybersecurity, intelligence and C4ISR markets.
The transaction is subject to regulatory approvals and is scheduled to close during CACI’s fiscal second quarter, which ends in December 2013, CACI said Wednesday.
CACI intends for the acquisition to increase its calendar year 2014 GAAP earnings per share by 5 percent and diluted adjusted earnings per share by 10 percent.
Six3 Systems estimates its calendar year 2013 revenue to be $470 million and has 1, 600 employees worldwide.
“The acquisition of Six3 Systems is the largest in the company’s long and successful track record of more than 55 acquisitions, ” said Jack London, chairman of CACI’s board.
“With this acquisition, we are investing in the advanced intelligence, situational awareness, and cybersecurity capabilities that are essential to safeguarding our country, as well as the intelligence operations and C4ISR capabilities that serve and protect our military forces, ” said Ken Asbury, CACI president and CEO.
“Both our companies are positioned to support national intelligence missions that require sophisticated technologies and services in areas we believe will be high priorities even in an environment of sequestration or budget constraints.”
CACI has secured an $800 million financing commitment for the acquisition, which will be financed by borrowings under the company’s existing revolving credit facility and the new commitment.
Robert Coleman, Six3 Systems CEO and COO, said the company will have access to a larger customer base as a part of CACI.
Coleman founded the company in 2009 in partnership with GTCR and led the company through at least four acquisitions, including its 2012 deal for geolcation firm Ticom Geomatics, a player in the ISR, cybersecurity and signals intelligence markets.
The serial entrepreneur also founded and served as president and CEO of Integrated Data Systems, a provider of intelligence community solutions in software engineering, computer security and enterprise architecture that he sold to ManTech International in 2003.
Coleman would go on to serve as president and COO of ManTech for around five years until the founding of Six 3 Systems.
Six3 Systems won a $179 million task order in May of this year to support U.S. Army efforts to protect soldiers from threats including improvised explosive devices (IEDs).
That contract to provide analytics and operations support for counter-insurgent and -IED missions was part of its placement on a potential $499 million indefinite-delivery/indefinite-quantity contract for related services.
The company also announced more than $260 million in national security and intelligence awards earlier this year, including a contract worth around $60 million to provide intelligence services to the Army in Europe in areas including biometrics, geospatial intelligence and cyber counterintelligence.