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A Look at 2005's Top IT Deals
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Investment bank: BB&T Capital Markets/Windsor Group for Nortel; J.P. Morgan for PEC
Why it's a big deal: It's another sign of the U.S. market's attractiveness to foreign buyers. As a non-U.S. company, Nortel was limited in how it could compete for federal work. With the PEC purchase, Nortel has set up a wholly owned subsidiary with an independent board of directors and now can compete unfettered. The PEC acquisition also marks the departure of a strong, mid-tier company that itself was making acquisitions.
No. 3.
Buyer: Qinetiq Ltd., Farnborough, England
Seller: Apogen Technologies Inc., McLean
Purchase price: $288 million
Closing date: Sept. 12
Investment bank: UBS Investment Bank for Apogen
Why it's a big deal: Another foreign buyer is just part of the story. Apogen is Qinetiq's platform for growth in the IT space in the United States. With its British parent's backing, more deals are expected from Apogen.
No. 4.
Buyer: Veritas Capital Fund LP, New York
Seller: Most of DynCorp's technical services business from Computer Sciences Corp., El Segundo, Calif.
Purchase price: $850 million
Closing date: Feb. 14
