Latest news reports have revealed that $ 2 billion talks between Serco and SRA International has been called off. While Serco is into the business of outsourcing, SRA takes care of the spying business.

Serco which has got many public service companies in Britain as its clients has tried for a very long time to takeover SRA. Had the deal taken place then it would have been one of the biggest foreign run companies in US. But sadly, that could not happen.

Last night it was said that no further discussion on the topic is going to take place anymore. The move comes as a rude shock to SRA which first entered the US IT services segment with $ 524 million takeover of SI International.

The Virginia-based firm provides services to US military along with intelligence agencies and has got some 1200 different contracts under its name. The founder owner of the firm was Dr Ernst Volgenau who started it in 1976 and still controls 24 per cent stake in it.

So, for the firm to make any kind of sale decision, they have to take permission from Dr Volegnau first.