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Providence Equity To Acquire SRA For $1.9 Billion

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By Calvin Biesecker The private equity firm Providence Equity Partners on Friday said it has agreed to acquire the government information technology (IT) and services firm SRA International [SRX] for $1.9 billion in cash, boosting its presence in the federal space. Terms of the deal allow SRA to continue seeking another potential buyer for 30 days from the time of the merger agreement. Providence has agreed to pay $31.25 for each share of SRA common stock, representing a premium of…

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