FDC Technologies Inc. last week entered into an agreement to purchase Sylvest Management Systems Corp. a Lanham Md. integrator specializing in networking and open systems. The pact will make Sylvest a subsidiary of FDC according to an industry source. FDC is the main operating unit of Federal Data
FDC Technologies Inc. last week entered into an agreement to purchase Sylvest Management Systems Corp. a Lanham Md. integrator specializing in networking and open systems.
The pact will make Sylvest a subsidiary of FDC according to an industry source. FDC is the main operating unit of Federal Data Corp. a Bethesda Md. integrator. The majority of the stock of Federal Data is owned by The Carlyle Group a Washington D.C. merchant banker. The Sylvest acquisition which will make FDC a $400 million company with 1 100 employees is expected to be formally closed in about two weeks.
Dan Young chief executive officer of Federal Data declined to comment on the agreement.Speaking through an assistant Gary S. Murray president and CEO of Sylvest had no comment except to say that a press release would be distributed at an appropriate time.
The purchase would be the second for FDC this year. In April the company announced an agreement to acquire NYMA Inc. an engineering and information technology services company in Greenbelt Md. While the NYMA acquisition gave FDC greater depth in services the Sylvest deal has more of a product flavor. Sylvest resells products from a number of vendors including Cisco Systems Inc. Compaq Computer Corp. Hewlett-Packard Co. IBM Corp. and Sun Microsystems Inc. The industry source said Sylvest's relationships with product companies was one of the factors that motivated the acquisition. Sylvest also has expertise in open systems and networking the source added.
Sylvest also brings some sizable contract awards to the table. The company was selected this year for what could become the company's largest contract: the Treasury Department's Treasury Distributed Processing Infrastructure program. That deal for Unix workstations and servers is valued at $300 million to $500 million.