JUNE 9--Essex Corporation (Columbia MD; www.essexcorp.com) has acquired Performance Group Inc. (PGI; Fredericksburg, VA). The acquisition is subject to customary closing conditions and is expected to close within the next several weeks.
PGI is a privately owned company with 39 employees and annual revenue of approximately $4.5 million in calendar year 2003; it has been profitable since it was founded in 1994. PGI provides services in the areas of geographic information systems (GIS), imagery processing and analysis, spatial data development, environmental consulting, visualization, and IT solutions to government and private sector clients. Worldwide GIS revenues in 2003 are estimated by Daratech to have been $1.75 billion.
"PGI is another excellent fit to our acquisition strategy," says Leonard Moodispaw, CEO & president of Essex Corporation. "We create integrated solutions from our products, technologies, and services. PGI's strong GIS experience and capabilities will help us move toward 3-D imaging solutions by integrating 3-D synthetic aperture radar images, produced by Essex proprietary technology, with leading GIS systems. By linking these images within a GIS system to a common geographic grid, the images can be combined with a range of other information to answer a range of questions for both our intelligence and defense and commercial customers."
