SRA Acquires Sentech
July 19 2010 - 9:15AM
Business Wire
SRA International, Inc. (NYSE: SRX), a leading provider of
technology and strategic consulting services and solutions to
government organizations and commercial clients, today announced it
has acquired Sentech, an energy management consulting company with
expertise in renewable energy, distributed generation, energy
efficiency and advanced transportation technologies.
Sentech, an energy consulting firm headquartered in Bethesda,
Md., works extensively across numerous organizations within the
U.S. Department of Energy (DOE) community, including projects for
energy efficiency and renewable energy; electricity and energy
reliability; fossil energy; and the Energy Information
Administration. Sentech also supports a number of DOE’s National
Laboratories, along with other federal and state agencies that have
a diverse range of energy and environmental consulting
requirements, including Federal Executive Order 13514
sustainability mandates.
“Bringing Sentech’s strong domain expertise together with SRA’s
IT systems and environmental offerings will be a complementary fit
as we continue to enhance our strong presence in the environmental
and energy markets,” said SRA President and CEO Stan Sloane.
“Sentech’s reputation across the industry as a preferred contractor
with a high level of customer satisfaction will help to position
SRA as a leader in this important area.”
With this acquisition, SRA expands its expertise in delivering a
comprehensive set of services in sustainable buildings and energy
efficiency; clean energy supply; advanced transportation;
electricity and distributed energy; and business management and
consulting. Sentech complements the climate change-related services
of SRA’s recent acquisition of Perrin Quarles Associates (PQA), now
part of SRA’s Environmental and Energy Services business unit.
“SRA is an ideal fit for Sentech to expand its reach into other
U.S. government agencies,” said Sentech Chief Executive Officer
Rajat Sen. “SRA has deep understanding of the environmental and
energy markets and an outstanding reputation in the industry. We
believe that combined with our extensive background in energy
technologies and services, we can make a significant impact in
accelerating the nation’s use of clean, responsible and secure
energy.”
Completion of the transaction is effective immediately.
Financial terms of the acquisition were not disclosed. Sentech is
expected to contribute approximately $30 million of revenue for
fiscal year 2011. The accretion to SRA's fiscal year 2011 earnings
is not expected to be significant.
About SRA International, Inc.
SRA and its subsidiaries are dedicated to solving complex
problems of global significance for government organizations
serving the national security, civil government and global health
markets. Founded in 1978, the company and its subsidiaries have
expertise in such areas as air surveillance and air traffic
management; contract research organization (CRO) services; cyber
security; disaster response planning; enterprise resource planning;
environmental strategies; IT systems, infrastructure and managed
services; logistics; public health preparedness; public safety;
strategic management consulting; systems engineering; and wireless
integration.
SRA and its subsidiaries employ more than 7,000 employees
serving clients from its headquarters in Fairfax, Va., and offices
around the world. For additional information on SRA, please visit
www.sra.com.
Any statements in this press release about future expectations,
plans, and prospects for SRA, including statements about the
estimated value of the contract and work to be performed, and other
statements containing the words “estimates,” “believes,”
“anticipates,” “plans,” “expects,” “will,” and similar expressions,
constitute forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those indicated by such forward-looking
statements. In addition, the forward-looking statements included in
this press release represent our views as of July 19, 2010. We
anticipate that subsequent events and developments will cause our
views to change. However, while we may elect to update these
forward-looking statements at some point in the future, we
specifically disclaim any obligation to do so. These
forward-looking statements should not be relied upon as
representing our views as of any date subsequent to July 19,
2010.
Sra (NYSE:SRX)
Historical Stock Chart
From May 2024 to Jun 2024
Sra (NYSE:SRX)
Historical Stock Chart
From Jun 2023 to Jun 2024