Vangent to buy data analytics developer for $65M
Vangent has signed a definitive agreement to acquire Buccaneer Computer Systems and Service, a developer of IT services, infrastructure, data hosting and data analytics for federal and state government customers.
Under the terms of the agreement, the Arlington, Va.-based Vangent will purchase privately held Buccaneer for $65 million in cash, subject to post-closing adjustments.
Headquartered in Warrenton, Va., Buccaneer has more than 450 employees. "Acquiring Buccaneer deepens our IT infrastructure and data analytics capabilities, particularly in the growing government healthcare market,” stated Mac Curtis, president and CEO of Vangent.
The acquisition is expected to be immediately accretive to Vangent earnings in fiscal year 2010, excluding acquisition-related charges, and a more significant contributor to earnings in fiscal year 2011. Vangent said the transaction is expected to close during the third quarter of fiscal 2010.
Under the terms of the agreement, the Arlington, Va.-based Vangent will purchase privately held Buccaneer for $65 million in cash, subject to post-closing adjustments.
Headquartered in Warrenton, Va., Buccaneer has more than 450 employees. "Acquiring Buccaneer deepens our IT infrastructure and data analytics capabilities, particularly in the growing government healthcare market,” stated Mac Curtis, president and CEO of Vangent.
The acquisition is expected to be immediately accretive to Vangent earnings in fiscal year 2010, excluding acquisition-related charges, and a more significant contributor to earnings in fiscal year 2011. Vangent said the transaction is expected to close during the third quarter of fiscal 2010.