SRA International Acquires Sentech

By Dave Liss | July 20, 2010

In a combination of government contractors, Fairfax, Virginia based SRA (NYSE: SRX) has announced an intention to purchase Sentech, "A Bethesda, Maryland energy management consulting company with expertise in renewable energy, distributed generation, energy efficiency and advanced transportation technologies."

"Bringing Sentech’s strong domain expertise together with SRA’s IT systems and environmental offerings will boost SRA’s government technology and strategic business consulting services and form a complementary fit for the two companies as we continue to enhance our strong presence in the environmental and energy markets," said SRA CEO Stan Sloane.

SRA did not say how much it is paying for Sentech, but expects the company to add $30 million to its annual revenue in 2011. Completion of the transaction is effective immediately.

In its latest quarter, SRA reported revenue ahead 9 percent to $411 million and a $39.7 million loss as the company recorded a $61 million charge for the impairment of goodwill.

SRA shares rose 7 cents to $20.24 in afternoon trading Monday.

Read More News