:

Business/Financial

Providence Equity Completes Acquisition of SRA

Defense Daily Staff

Thursday, July 21st, 2011

SHARE:

The private equity firm Providence Equity Partners has completed its nearly $2 billion purchase of SRA International, taking the publicly traded company private. SRA was founded in 1978 and went public in 2002. SRA, which is an information technology and services firm serving the national security and federal civilian markets, will retain its name. Ernst Volgenau, the founder of SRA, will continue to service as the company’s chairman. Providence owns another government services firm, Altegrity.

Congress

Baldwin Concerned With Army’s JLTV ‘Mismanagement,’ Seeks Support For Marines’ Procurement Plans

Sen. Tammy Baldwin (D-Wis.) has raised concerns with the “Army’s mismanagement” of the Joint Light Tactical Vehicle (JLTV) program, and is seeking assurance that the Marine Corps can be supported […]

Congress

SASC Cites Concern With Army’s sUAS Approach, Seeks Info On Plans To Scale Fielding

Senate defense authorizers are seeking more info from the Army on its plans for scaling and deploying small drone capabilities citing concern with the service’s current “fragmented and insufficient” approach. […]

SASC Bill Would Raise Amphib Requirement To 33 Ships

The Senate Armed Services Committee’s (SASC) fiscal year 2027 defense policy bill adds new provisions that would raise the Navy and Marine Corps’ minimum requirement for amphibious warships and extend […]

Army

Army Plans To Initiate ISV-Heavy Competition Later This Year, Official Says

The Army is planning to initiate its competition to build the Infantry Squad Vehicle (ISV)-Heavy in the fourth quarter of this year, a senior acquisition official has said. Jesse Tolleson, […]