Maximus to acquire Acentia in $300 million deal

Reston-based Maximus plans to acquire Falls Church-based Acentia in a $300 million all-cash deal.

The all-cash transaction is valued at approximately $300 million.

Maximus said the deal will expand its federal services business through additional contract vehicles and access to agencies that represent its core business model.

Acentia provides technology and management services to federal government civilian and health agencies in the U.S.

Maximus operates government health and human-services programs in the U.S., United Kingdom, Canada, Australia and Saudi Arabia.

It had a profit of $145.4 million on revenue of $1.7 billion in its last fiscal year that ended Sept. 30.

The acquisition is expected to close during Maximus’ fiscal 2015 third quarter and is subject to certain closing conditions.

Acentia had about $210 million in pro-forma revenue for the year ended Dec 31. Maximus expects Acentia to contribute approximately $110 million in revenue for the remainder of the company’s fiscal 2015, which ends on Sept. 30.

Maximus plans to finance the transaction with existing cash and an amended line of credit agreement that provides for up to $400 million through 2020, subject to customary conditions.

Acentia’s services include systems modernization, software development, program management and other information technology services and solutions.

Its clients include the Department of Health and Human Services, Centers for Disease Control and Prevention, Food and Drug Administration, Internal Revenue Service, Securities and Exchange Commission, Defense Health Agency and the Departments of Commerce, Agriculture and Labor.

Acentia has about 1,000 employees across the U.S. Maximus has more than 13,000 employees worldwide.