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M&A Activity

GTEC Completes Tender Offer

GTEC (Nasdaq: GTEC) issued a statement reporting the completion of the tender offer for its common stock by Ares Management LLC for $24.25 per share. According to the firm, “on March 3, 2011, GTEC announced that it had entered into a definitive merger agreement with Sentinel Acquisition Corporation, an affiliate …

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SAIC Sells Oil & Gas IT Services; CEO Havenstein, Group Pres. Craver Comment

SAIC (NYSE: SAI) has a deal in place to sell Wipro (NYSE: WIT) operations focused on “specialized IT services to oil and gas companies.” CEO Walt Havenstein announced the firm’s intent to move the units during a financial call last week. The firm is selling its U.S. oil and gas …

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Deltek Buys WMG, FedSources for $26 Million; CEOs Kevin Parker and Bill Gormley Comment

Deltek (NASDAQ: PROJ) has reached an agreement to purchase Washington Management Group, including FedSources and FedSources Consulting for $26 million in an all cash transaction. WMG, FSI, and FSI Consulting provide market intelligence and consulting to government contracting firms. “Acquiring WMG and FedSources significantly expands our solutions portfolio and drives …

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SRA Sold for $1.88 Billion to Providence Equity Partners

SRA International (NYSE: SRX) has agreed to a definitive merger agreement to be acquired by an affiliate of Providence Equity Partners in an all-cash transaction valued at $1.88 billion. As part of the agreement, SRA shareholders will receive $31.25 in cash for each share of common stock. The firm’s board …

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Northrop Grumman Finalizes Huntington Spin-off; CEO Wes Bush Remarks

Northrop Grumman (NYSE: NOC) has finalized its planned spin-off of subsidiary Huntington Ingalls Industries, Inc. (NYSE: HII). According to the firm, “Northrop Grumman stockholders of record at the close of business of the New York Stock Exchange (NYSE) on March 30, 2011, received one share of HII common stock for …

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Cisco to Boost Cloud Offering with newScale, Inc. Purchase

Cisco (NASDAQ: CSCO) reports that it intends to purchase newScale Inc., a firm focused on “software that delivers a service catalog and self-service portal for IT organizations to select and quickly deploy cloud services within their businesses.” The privately-held, California-based newScale helps customers “initiate the provisioning of their own systems …

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SAIC to Sell Portion of Business; CEO Havenstein Promises Aggressive Acquisition Strategy in Future

According to a report in The Washington Post, SAIC (NYSE: SAI) is looking to sell its business focused on IT solutions for oil and gas companies while seeking expansion in growth markets via acquisition. CEO Walt Havenstein noted the strategy in an investor call last week. “To grow our oil …

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Northrop Grumman Approves Spin-off; CEO Wes Bush Comments

Northrop Grumman’s (NYSE: NOC) board of directors has approved the spin-off of its wholly-owned subsidiary, Huntington Ingalls Industries, to Northrop Grumman stockholders. According to the firm, the move is subject to final SEC clearance. “We have determined that a spin-off of our shipbuilding business will best serve our shareholders, customers …

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Intel Acquires Egyptian Firm

Intel has acquired “most of the assets of” Cairo-based SySDSoft, and hired about 100 of the firm’s electrical engineers and computer scientists. According to Cisco, SySDSoft designs IP solutions in the software stack and physical layer domain and RF/analog circuits embedded in mobile platforms. “The acquisition of engineering and design …

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Cisco Wraps Up $95 Million Inlet Technologies Acquisition

Cisco (NASDAQ: CSCO) has finalized its acquisition of privately-held Inlet Technologies for $95 million. The Raleigh, N.C.-based firm focuses on Adaptive Bit Rate digital media processing platforms and will provide a boost to Cisco’s Videoscape TV platform offering. According to Cisco, “Inlet brings to the firm a strong team that …

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