Government IT services contractor Anteon International has acquired Simulation Technologies, a vendor of modeling and simulation software, for $15m in cash.
Fairfax, Virginia-based Anteon said the deal will enable it to cross-market STI’s war-gaming and military support capabilities with Anteon’s existing training, simulation, and homeland defense business.
Privately owned STI is based in San Antonio, Texas and has 170 employees working on contracts with the US Army and Air Force. Its annual sales are in excess of $20m. Anteon said it will fund the deal using existing cash resources.
Anteon’s annual revenue topped the $1bn mark for the first time in 2003, following a series of major contract awards from the US Navy and the Department of Defense.
The company’s growth to date has been largely organic, although it acquired Information Spectrum, a privately-owned contractor to the Department of Homeland Security, in April 2003 for $90.7m in cash.