Praxis Engineering Technologies to be acquired by CSRA Inc.
FALLS CHURCH, Va. Officials at CSRA Inc. signed a definitive agreement to acquire Praxis Engineering Technologies Inc. for $235 million in cash. Praxis is a consulting and solutions firm dedicated to the practical application of software and systems engineering technologies within the intelligence community.
The acquisition is subject to customary closing conditions and approvals, including antitrust approval under the Hart-Scott-Rodino Act and is expected to be completed during CSRA’s third quarter, which ends December 29, 2017. When the transaction closes, Praxis Engineering Technologies, LLC will become a wholly-owned subsidiary of CSRA LLC.
Praxis is headquartered in Annapolis Junction, Maryland. CSRA will absorb 350 highly-cleared employees, with the majority of them being software and systems engineers holding top-level clearances.