SRA to Acquire Qbase Government Services Business Assets

FAIRFAX, Va., March 31, 2015 /PRNewswire/ -- SRA International, Inc., a leading provider of IT solutions and professional services to government organizations, today announced that the company has signed an asset purchase agreement, on March 30, to acquire part of the Government Services business of Qbase, LLC, a privately-held software products and services company supporting customers in the intelligence, national security, government, healthcare, and energy arenas.

The acquired assets of Qbase's Government Services business deliver IT support solutions and professional services to help enable the U.S. government's critical missions in healthcare, homeland security, and law enforcement. SRA welcomes approximately 230 new employees as part of the agreement.

SRA President and CEO Bill Ballhaus commented, "The acquisition of key Qbase services and programs is a natural fit for SRA. The solid customer relationships this transaction brings, along with SRA's and Qbase's reputation for service excellence, further strengthen SRA's presence in the health IT, homeland seurity and law enforcement markets. I'm also excited about the great people this brings to SRA, including highly-skilled software and data architects, developers, data scientists, computer systems analysts, project and quality assurance managers. Our joint expertise, differentiated software engineering, cybersecurity and IT infrastructure solutions, and shared values will enable us to collaborate and deliver the best solutions in support of the important missions of the U.S. government."

Terms of the deal were not disclosed and completion of the transaction, which is subject to customary closing conditions, is expected to occur in April.

Houlihan Lokey acted as financial advisor to Qbase.

About SRA International, Inc.
At SRA we combine our creativity, mission experience, technology acumen and domain expertise to deliver innovative IT solutions and professional services to address the toughest mission and operational challenges faced by U.S. government agencies.  We are inspired by our customers' missions and strive to provide the best people, working together to generate the best ideas, to deliver the best possible performance - all driven by our enduring values of Honesty and Service®. SRA was founded in 1978. We are headquartered in Fairfax, VA and employ approximately 5,300 professionals operating at home and overseas. Learn more about SRA at www.sra.com.

Any statements in this press release that are not historical data or information constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These statements are subject to factors and risks that could cause actual results to differ materially from the results SRA anticipates.  Some of these factors are set forth in Item 1A of SRA's Form 10-K for its latest fiscal year ended June 30, 2014, and subsequent filings made by SRA with the Securities and Exchange Commission.  While SRA may elect to update forward-looking statements at some point in the future, the company specifically disclaims any obligation to do so except as required by law. These forward-looking statements should not be relied upon as representing SRA's views as of any date subsequent to the date of this press release.

Logo - http://photos.prnewswire.com/prnh/20140810/134934 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sra-to-acquire-qbase-government-services-business-assets-300058703.html

SOURCE SRA International, Inc.

[ Back To TMCnet.com's Homepage ]