SI International, Serco merger OK'd by U.S. Committee on Foreign Investment

By Lisa Kerner

Charlotte, N.C., Dec. 24 - The Committee on Foreign Investment in the United States is permitting Serco Group plc to acquire SI International, Inc., it was announced on Wednesday.

The companies said they expect to complete the transaction "shortly," subject to the satisfaction of customary closing conditions.

It was previously reported that SI and Serco withdrew and resubmitted their Oct. 31 joint voluntary notice with the committee to provide up to 30 additional days of review by the committee.

In August, SI agreed to be acquired by Serco for $32 per share in cash in a deal valued at about $423 million.

Serco Group is acquiring the company through Serco Inc., a Reston, Va.-based government contractor. Its customers include the Department of Defense, U.S. intelligence and security agencies and federal civilian agencies.

SI provides information services, technology and network solutions primarily to the federal government. The company is also located in Reston, Va.

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