SI International, Serco seek additional time for review by U.S. Committee on Foreign Investment

By Lisa Kerner

Charlotte, N.C., Nov. 4 - SI International, Inc. and Serco Inc. withdrew and resubmitted their joint voluntary notice to the Committee on Foreign Investment in the United States.

The notice was resubmitted to provide for up to 30 additional days of review by the committee, it was reported in a form 8-K filed with the Securities and Exchange Commission.

SI International said the current 30-day committee review period will close on Dec. 1.

In August, SI International agreed to be acquired by Serco for $32 per share in cash in a deal valued at about $423 million.

Successful completion of the committee review process is a closing condition in the proposed merger, the filing said.

SI International stockholders will vote on the merger agreement on Nov. 13.

Serco is a Reston, Va.-based government contractor. Its customers include the Department of Defense, U.S. intelligence and security agencies and federal civilian agencies. It is a subsidiary of Hook, England-based Serco Group plc.

SI International provides information services, technology and network solutions primarily to the federal government. The company is also located in Reston, Va.

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