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Business/Financial

Versar To Acquire Federal Security Integration Business From Johnson Controls

By Cal Biesecker

Thursday, September 10th, 2015

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Versar To Acquire Federal Security Integration Business From Johnson Controls

Versar CEO Tony Otten. Photo: Versar

Versar, Inc. [VSR] on Wednesday said it has agreed to acquire the physical and network security integration business of Johnson Controls [JCI] for $20 million in a deal that adds new products, services and customers to Versar.The transaction is expected to close this month. Versar said the purchase price includes cash and contingent consideration.Johnson Controls is selling its Maryland-based Security Systems (JCSS) business, which services federal clients by designing, installing and supporting physical, network security, and facilities management systems.“The acquisition…

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