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.
