ANDOVER, Mass., 6 June 2011.Defense technology consultant Dynamics Research Corp. (DRC) in Andover, Mass., is expanding its expertise in military information technology with its acquisition of High Performance Technologies Inc.(HPTi) in Reston, Va. DRC (Nasdaq:DRCO) agreed Friday to acquire HPTi, which provides technology services for cyber security, intelligence, civilian financial agencies, and homeland security, for $143 million cash.
HPTi, which reported 2010 revenues of $90 million, serves the U.S. Veterans Administration, Treasury Department, Department of Justice, intelligence agencies, and advanced military technology.
The company provides high-performance computing to enterprise-wide systems engineering. The company has about 440 employees. The deal is expected to close by the end of this month.