Press for Reveal Imaging
The M&A market for venture-backed companies is showing signs of life in Massachusetts. Eight VC-backed technology companies have announced exits by merger and acquisition so far in the third quarter. With the quarter half over, that puts the state on pace to double the eight deals posted for the New England region in the second quarter, and more than double the seven deals posted in last year’s third quarter.
Science Applications International Corporation (SAIC) [NYSE: SAI] today announced that it has entered into a definitive agreement to acquire Reveal Imaging Technologies, Inc., a leading threat detection products and services company. Reveal is headquartered in Bedford, Mass.
There’s some news on the homeland security front today. Reveal Imaging Technologies, based in Bedford, MA, said it is being acquired by SAIC, the McLean, VA-based government contractor giant also known as Science Applications International Corporation (NYSE: SAI). Financial terms of the deal weren’t released, but the acquisition is expected to close by the end of this month.
One of the investors in Bedford-based Reveal Imaging tells me this week's purchase of the company by Science Applications International Corp. is "a very positive acquisition," though the price wasn't disclosed.