Hello, Guest!
  • Friday, November 15, 2024

FTC Clears HIG Capital’s $283M NCI Purchase


The Federal Trade Commission has given antitrust approval for global private equity firm H.I.G. Capital™s proposed $283 million cash acquisition of government information technology services contractor NCI (Nasdaq: NCIT).

FTC granted early termination of the required waiting period for the deal under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, NCI said Monday.

NCI initially announced the transaction in early July as the Reston, Virginia-based contractor aims to advance its growth strategy as well as deliver agile software development support and artificial intelligence platforms to federal clients.

The transaction remains subject to the tender of shares of NCI common stock and other customary closing conditions.

Both companies expect the deal to conclude in the third quarter of 2017.

An affiliate of H.I.G. Capital will operate NCI as a wholly owned subsidiary upon the deal™s closure.

 

Video of the Day

Related Articles

Expert Panelists Discuss Low-Code Software & Citizen Development Events

Expert Panelists Discuss Low-Code Software & Citizen Development

Workforce is a determining factor of the success of any project, and it can be a challenge for federal agencies to find and recruit information technology experts and train their existing staff – who are often used to traditional processes – on new technologies. Low-code software presents a solution to this problem. This programming method

ODNI CIO Adele Merritt Shares 5 Intelligence Community IT Focus Areas Events

ODNI CIO Adele Merritt Shares 5 Intelligence Community IT Focus Areas

Advancements in information technology have completely altered the intelligence community’s ability to disseminate its analysis and data to those who need it most, like policymakers, diplomats and defense leaders. Without it, the IC would be “doing all of this with paper and pencil. But in all seriousness, that’s a big responsibility on our shoulders,” said

DOD Preparing to Update Software Modernization Strategy, According to Principal Deputy CIO Leslie Beavers Digital Modernization

DOD Preparing to Update Software Modernization Strategy, According to Principal Deputy CIO Leslie Beavers

Information technology is a top priority for the Department of Defense, and the organization is currently working to update its software modernization strategy, according to DOD Principal Deputy Chief Information Officer Leslie Beavers. The existing plan operates around three tenets: accelerating cloud adoption, establishing a software factory ecosystem and transforming the process of software development “to allow