“The acquisition of Computech is in line with NCI’s growth strategy, which calls for the development of new customers and service offerings both organically and through mergers and acquisitions,” NCI’s President Brian J. Clark said. “Computech furthers our commitment to delivering the highest quality services to our customers, while fostering an employee-focused culture throughout our company. We look forward to welcoming Computech to the NCI team.”
“We are pleased to announce this transaction,” NCI’s chairman and CEO Charles Narang said. “Having recently achieved our 25-year anniversary as a leading federal IT services contractor, we look forward to continuing our trend of success with the addition of Computech’s outstanding skills and customer set.”
The purchase price will be approximately $56 million in cash, subject to certain working capital and other adjustments as of the closing date, and will be funded through a combination of cash on hand and borrowings under NCI’s senior credit facility. The transaction is expected to close on Jan. 1, 2015, following the satisfaction of customary closing conditions.
“Being part of NCI is very attractive,” Computech founder and CEO J. D. Murphy, Jr. said. “The combination leverages the collective skills of talented staffs, advances the delivery of customer-focused, technological solutions and, most importantly, allows for the future collaboration and broadening of Computech’s Agile O&M® Framework. The union brings together cultures that are dramatically similar in spirit, philosophy and substance. I believe joining NCI is a logical step for our staff as well as for current and future clients.”
Founded in 1979, Bethesda, Md-based Computech provides agile software application development; IT system modernization; application portfolio management; agile operations and maintenance; data strategy, analytics and visualization; and big data processing to federal civilian customers.
WashingtonExec last reported on NCI Inc. when the company was awarded a $12.3 million contract in November to support U.S. Southern Command.