Dynamics Research Corporation announced Friday it reached an agreement to acquire Reston’s High Performance Technologies for $143 million in a deal expected to close the end of this month.
The deal is expected to expand DRC’s presence within the federal healthcare and military technology market, an area the NASDAQ-traded company has significantly grown its business in the past five years (going from almost no revenue in that area to more than $30 million today).
DRC has annual revenues around $268 million and more than 2,000 employees.
High Performance Technologies is a high-end technology solutions provider, synthesizes disciplined architecture and development with emerging technologies across high priority federal civilian and defense agencies such as the Veterans Administration, Treasury, Department of Justice, intelligence agencies, and selected advanced military technology areas.
The company had $90 million in revenue in calendar year 2010 and more than 440 employees.
“HPTi has an outstanding reputation in the federal marketplace with the capabilities to solve some of the most complex, technical challenges faced by government agencies,” said Jim Regan, DRC’s chairman and chief executive officer.
“I have known the company and members of its management team since inception. HPTi is among the best led organizations in our industry and an outstanding fit for DRC. HPTi’s management team has done a tremendous job of extending the company’s technical abilities, which originated in the defense arena, to other federal growth markets. We are very enthusiastic about having the HPTi staff with their impressive capabilities join the DRC team.”