SRA International [SRX] on Monday said it has agreed to acquire Platinum Solutions Inc., a custom software development firm that provides integrated system solutions for federal clients, boosting SRA’s systems business.
Platinum Solutions, which is based in Northern Virginia, serves federal customers in the defense, intelligence, healthcare and law enforcement areas. The company specializes in developing customized software applications and providing data management solutions for its customers.
SRA said the deal will expand its mission systems capabilities, benefit from Platinum Solutions’ well-established delivery model for mission-oriented information technology solutions, and obtain additional software integration and development qualifications with clients in national security, intelligence and civil government agencies.
“Platinum Solutions is a great fit for SRA,” said SRA President and CEO Stan Sloane. “Their software and system development capabilities and premier customer base strengthen the expansion of our complex systems business.”
Platinum Solutions is expected to have sales this year of around $55 million. SRA expects the acquisition to be accretive to per share earnings in its FY ’11, which began this month.
The acquisition is subject to federal regulatory approval. Stifel Nicolaus Weisel is the financial adviser to Platinum Solutions on the deal.