SI Organization To Acquire QinetiQ Services Division
WASHINGTON — The SI Organization, a Chantilly, Va.-based systems engineering and integration contractor whose customers include the national security space community, has signed an agreement to acquire engineering services provider QinetiQ North America (QNA) Services and Solutions Group (SSG) of Reston, Va., the companies announced April 22.
The deal could be worth as much as $215 million, including a $50 million potential earnout, QinetiQ North America’s U.K.-based parent company said in a press release.
The combined company, with 4,800 employees and $1.3 billion in annual revenue, will focus on cybersecurity, analytics, software development and information technology solutions, a release from the SI Organization said.
“The acquisition of QNA/SSG accelerates the SI’s vision to be a leader in the design, development, integration and operation of complex, mission-critical information systems across the government,” Mac Curtis, chief executive of the SI Organization, said in a prepared statement. “This transaction creates an opportunity to greatly scale our presence in market adjacencies.”
The transaction is expected to be completed in the second quarter of the year, the companies said.
The SI Organization was a systems engineering and integration arm of Bethesda, Md.-based Lockheed Martin Corp., which divested the operation in 2010 as part of a reorganization prompted in part by a tightening of U.S. organizational conflict of interest laws. Lockheed Martin is the world’s largest defense and space contractor.
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