Macfadden Completes Acquisition of Systems Integration Group, Inc. (SIG)
Wednesday, 09 April 2008
Macfadden and Associates, Inc. (Macfadden) and Systems Integration Group, Inc. (SIG) announced today that both companies have finalized an agreement under which Macfadden, an employee-owned company, has acquired SIG, a leading provider of professional, engineering and information support services to the federal and commercial markets.
Initially, SIG will continue operations as a wholly-owned subsidiary of Macfadden. The acquisition increases projected 2008 revenue to $30M. Terms of the transaction were not disclosed.
Together, Macfadden and SIG offer a wide range of information technology services and international program management solutions. Their diverse clientele and the resulting contracts base expansion will enable both companies to expand services to existing clients and increase profitability.
"SIG is an excellent strategic addition to Macfadden's business focus," said Russell Hall, President and CEO of Macfadden. "Through this acquisition we bring together two companies with similar operational alignment and complementary corporate cultures. Our combined companies offer financial strength and a history of exceeding client expectations."
"In Macfadden, we believe we have found the perfect partner," said Charles Royster, former President of SIG. "Like SIG, Macfadden focuses on its customers and employees. Our corporate cultures are very similar, and both companies emphasize quality and customer satisfaction. SIG and Macfadden possess substantial technical capabilities and, to the benefit of our customers and employees, they are quite complementary. This synergy will extend our usefulness to the customers of both companies. All of us at SIG are very enthusiastic about this combination and the future success of the organization."
About MacfaddenMacfadden is a highly diversified, employee-owned, professional services company providing integrated information technology and program management office support services and solutions. For more than two decades, both domestically and abroad, the company has offered a range of integrated solutions and applications. Currently, Macfadden provides support to multiple information technology and business process projects within Federal agencies including the U.S. Agency for International Development, the U.S. Department of State, the U.S. Food and Drug Administration and the U.S. Peace Corps.
About Systems Integration Group, Inc. (SIG)
Founded in 1984 and headquartered in Lanham, MD, SIG provides a wide range of professional, engineering, and information support services to federal and commercial markets. A leading expert in enterprise content management, SIG's areas of expertise include business support services, systems integration and application development, financial systems and accounting support services, business process review and re-engineering, electronic document and records management systems. SIG's Federal government clients include the U.S. Coast Guard, the U.S Department of Agriculture, the U.S. Department of Treasury, the U.S. Environmental Protection Agency, the U.S. National Archives and Records Administration and the National Park Service. For more information about SIG visit www.sigi.com.