NCI To Buy Computech

(RTTNews) - NCI, Inc. (NCIT) said Monday that it has agreed to buy Computech, Inc., which is engaged in agile and lean application software development and IT operations and maintenance, for about $56 million in cash, subject to certain working capital and other adjustments.

The deal, which will be funded through a combination of cash on hand and borrowings under NCI's senior credit facility, is expected to close on January 1.

Computech is headquartered in Bethesda, Md., and has nearly 170 employees working mainly in the Washington, D.C. metropolitan area. It provides agile software application development; IT system modernization; application portfolio management; agile operations and maintenance; data strategy, analytics and visualization; and big data processing to federal civilian customers, including the Federal Communications Commission, Department of Homeland Security, Executive Office of the President, Internal Revenue Service, U.S. House of Representatives and U.S. International Trade Commission.

Computech expects to generate more than $40 million of revenue in its current fiscal year, ending December 31, 2014. NCI expects the deal to be immediately accretive to its margins and earnings.