SRA to be Acquired by Providence Equity Partners for $31.25 per Share; Announces 30-day Go-shop Period

SRA International, Inc. SRX today announced it has entered into a definitive merger agreement under which SRA will be acquired by an affiliate of Providence Equity Partners in an all-cash transaction. Pursuant to terms of the agreement, SRA shareholders will receive $31.25 in cash for each share of common stock, for a total value of approximately $1.88 billion. The transaction represents a 10.2% premium based on the closing price of $28.36 on March 31, 2011 and a premium of 52.8% over the closing price of $20.45 on Dec. 31, 2010, the company's unaffected share price. The company announces 30-day "go-shop" period.