The deal will cost SI International about $30 million.
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."
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