LOS ANGELES, Feb. 18 (UPI) -- Northrop Grumman of Los Angeles Friday acquired privately held Integic Corp. of Chantilly, Va.
Integic is an information technology provider specializing in enterprise health and business process management solutions. The company, which generated 2004 revenue of $161 million, will become part of the Federal Enterprise Solutions business unit of Northrop Grumman's Information Technology sector.
The transaction is expected to be neutral in 2005 and in 2006 add to Northrop Grumman's earnings per share from continuing operations.
Terms of the transaction were not disclosed.
"Integic complements our current government information technology business, and we expect this combination to further increase our growth opportunities," said Jim O'Neill, corporate vice president and president, Northrop Grumman Information Technology.
The transaction is subject to customary regulatory approvals and is expected to close in March or April 2005. Citigroup Global Markets served as Northrop Grumman's financial adviser on the transaction.
Northrop Grumman is a global defense contractor.
