NCI, Inc. [NCIT] on Monday said its pending sale to the private equity firm H.I.G. Capital has been granted early termination of the waiting period required under the Hart-Scott-Rodino antitrust law, clearing one condition of the acquisition.
H.I.G. in early July agreed to acquire NCI for $283 million in cash. NCI, a federal information technology services provider, said the acquisition will accelerate its growth plans.
H.I.G. is paying $20 per share for NCI. The tender offer is currently set to expire on Aug. 11. NCI’s board already approved the deal and the company’s chairman, Charles Narang, agreed to tender all of his shares of common stock in favor of the offer.
NCI’s financial advisers on the deal are Wells Fargo Securities and Stifel, Nicolaus & Company.
Separately, NCI in late July said it has strengthened its cyber security experience with the hiring of James Bowlin as vice president of Cyber Security Engineering. He will lead the company’s enterprise strategy for the cyber market.
Bowlin most recently was the Atlantic technical expert for information assurance policy and risk management at Space and Naval Warfare Systems Command Atlantic. He is a certified ethical hacker.