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Print Edition StoriesThursday, July 21, 2011
Providence Equity closes $1.88 billion buyout of SRA International
By Michelle Lang
Rhode Island private equity firm Providence Equity Partners has completed its buyout of SRA International, a technology provider in areas of homeland security and defense, in a deal worth about $1.88 billion.
The all-cash acquisition amounted to $31.25 per share. As part of the transaction, SRA’s common stock will be delisted from the New York Stock Exchange. The Virginia company, which employs 7,000 workers worldwide, will keep its headquarters in Fairfax, Va., as well as its global offices.
Providence Equity Partners specializes in equity investments in media, communications, information services and education companies. The company closed a deal earlier this month to buy Blackboard Inc., a Washington, D.C., company that develops educational software for institutions ranging from K-12 to colleges, for about $1.64 billion.
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