SI to buy Bridge

SI International has signed an agreement to acquire Bridge Technology, company officials announced today. While still subject to approval by SI's board of directors, the deal will cost SI about $30 million in cash to acquire Bridge stock.

The acquisition will help SI, a technology services firm, in its quest to broaden its customer base in the intelligence agencies, officials said. Bridge has a presence in the intelligence agencies that will give SI officials a platform to offer its services directly to them. Bridge has about 140 employees, almost all with security clearances.

"We believe that the acquisition of Bridge Technology will establish a solid foundation for SI International to take advantage of the growth in the intelligence sector," said Ray Oleson, chairman and chief executive officer of SI, in a written statement. "The acquisition will greatly improve our presence within defense intelligence agencies and bring new core competencies that enhance SI International's practice areas."