SI International (SINT) to Acquire Arrowpoint Corp. for $16M at Closing
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SI International, Inc. (Nasdaq: SINT) today announced it entered into a definitive agreement to acquire Arrowpoint Corporation for $16.0 million in cash at closing, plus an additional amount of up to $9.0 million in cash to the extent that Arrowpoint achieves certain performance objectives in 2008 and 2009. SI International expects to pay the purchase price with cash-on-hand and additional borrowings under its senior credit facility..
The acquisition expands SI International's relationship with key Department of Defense clients.
SI International, Inc. provides information services, technology, and network solutions primarily to the federal government.
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