A PAE subsidiary has entered into a definitive agreement to acquire Metis Solutions Corporation, a provider of intelligence analysis, operational and tactical training and program management, for $92 million in cash, the company announced Monday.
â€œThis acquisition expands and builds scale in intelligence analysis, training and program support, all of which are well-funded market areas of the U.S. government and our allied nations,” said John Heller, president and CEO of PAE and 2020 Wash100 Award recipient.
Through the acquisition, PAE will gain more than eight strategic indefinite-delivery/indefinite-quantity (IDIQ) contract vehicles, with a total ceiling value of more than $60 billion.
â€œAdditionally, in combination with CENTRA Technology, PAE will have significant breadth and depth across the Intelligence and National Security communities in capability and customer access,â€ Heller added.
PAEâ€™s purchase will expand and develop scale in PAEâ€™s intelligence analysis, training and program support business areas, as well as position PAE with new customers across the intelligence and defense communities.
â€œWe are excited to join PAE and its heritage of service. Our shared cultures of service excellence and innovation make this a compelling combination. Together, we will pursue exciting new revenue opportunities,â€ said Christopher Wynes, Metis president and CEO. â€œJoining together with PAE will help accelerate growth in our intelligence and national security business and enable us to pursue a broader customer base across more markets.â€
Headquartered in Arlington, Virginia, Metis supports the intelligence community (IC), national security and defense customers, and has more than 450 employees.
The acquisition is expected to close this quarter.
For 65 years, PAE has tackled the worldâ€™s toughest challenges to deliver agile and steadfast solutions to the U.S. government and its allies. With a global workforce of approximately 20,000 on all seven continents and in approximately 60 countries, PAE delivers a broad range of operational support services to meet the critical needs of our clients. Our headquarters is in Falls Church, Virginia.