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Falls Church defense contractor will acquire Metis Solutions Corp.
Sydney Lake //November 16, 2020//
Falls Church defense contractor will acquire Metis Solutions Corp.
Sydney Lake// November 16, 2020//
Falls Church-based defense and government services contractor Pacific Architects and Engineers (PAE) announced Monday that one of its subsidiaries will acquire Arlington-based Metis Solutions Corp. for approximately $92 million in cash.
Metis Solutions, which employs 450 people, provides services including intelligence analysis, operational and tactical training and program management. PAE provides mission support services to government clients and employs more than 20,000 workers across its operations in 60 countries. It reported more than $2.7 billion in revenue last year.
This is the second large acquisition PAE has made in recent months. On Oct. 26, PAE announced it would acquire Burlington, Massachusetts-based Centra Technology Inc., an intelligence analysis service provider for the U.S. intelligence community and other federal agencies, in a $208 million transaction net of tax.
“This acquisition [of Metis Solutions] expands and builds scale in intelligence analysis, training and program support, all of which are well-funded market areas of the U.S. government and our allied nations,” PAE President and CEO John Heller said in a statement. “Moreover, the acquisition of Metis is expected to be accretive to adjusted EBITDA margins and free cash flow. Additionally, in combination with CENTRA Technology, PAE will have significant breadth and depth across the Intelligence and National Security communities in capability and customer access.”
Under the acquisition, PAE will gain more than eight contract vehicles that have a total combined ceiling value of more than $60 billion, according to reports.
“Our shared cultures of service excellence and innovation make this a compelling combination. Together, we will pursue exciting new revenue opportunities,” Metis President and CEO Christopher Wynes said in a statement. “Joining together with PAE will help accelerate growth in our intelligence and national security business and enable us to pursue a broader customer base across more markets.”
