DigitalGlobe to Acquire The Radiant Group
DigitalGlobe Inc. announced that it has agreed to acquire The Radiant Group Inc. from Aston Capital for $140 million in cash. Based in Chantilly, Virginia, Radiant provides advanced geospatial solutions focused on solving real-time multi-source intelligence and exploitation to customers including the NRO, NGA, DIA and SOCOM. The company employs over 400 employees including 250 software engineers and has over 20 prime contracts which is projected to generate 2016 revenues of approximately $100 million. Historical revenue growth has been in excess of 10 percent.
The deal is expected to close by the end of 2016 and is projected to be accretive to profitability.
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