CACI Completes Strategic Acquisition of L-3 National Security Solutions, Inc.
February 01 2016 - 12:35PM
Business Wire
Significantly Expands Opportunities in
Enterprise IT, Intelligence Services, Key Market Areas
CACI International Inc (NYSE MKT: CACI) announced today that it
has completed its transaction to acquire the outstanding stock of
L-3 National Security Solutions, Inc. (NSS), a prime mission
partner to the Department of Defense (DoD), intelligence agencies,
and the U.S. Federal Civilian Government. The acquisition will
significantly expand CACI’s opportunities for business growth in
its Enterprise IT, Intelligence Services, and other key market
areas.
With a purchase price of $550 million, the transaction is
expected to add approximately $1 billion of annual revenue to CACI.
It is expected to be accretive in CACI’s Fiscal Year 2016,
excluding one-time transaction expenses, and at least 10 percent
accretive to both GAAP and diluted adjusted earnings per share for
CACI’s Fiscal Year 2017. CACI will be providing revised Fiscal Year
2016 guidance, including the effects of the NSS transaction, when
it releases its second quarter FY16 results on February 3,
2016.
Headquartered in Reston, Virginia, NSS provides highly
specialized and differentiated strategic solutions, services, and
products for the country’s most sensitive national security
agencies and DoD critical missions. NSS employs approximately 4,000
professionals worldwide, of whom over 90 percent possess security
clearances.
Dr. J.P. (Jack) London, CACI Executive Chairman and Chairman of
the Board, said, “We welcome the highly skilled and experienced
employees from National Security Solutions to CACI’s team of
talented and dedicated professionals. The combined expertise of our
organizations is underscored by our shared cultural commitment to
good character and ethics. Together, we will further drive
excellence and innovation for our customers and long-term value for
our shareholders.”
According to Ken Asbury, CACI President and Chief Executive
Officer, “CACI’s acquisition of National Security Solutions is of
great strategic value to our company. Our collective strengths and
capabilities will enhance CACI’s pursuit of higher value
opportunities, provide a significant competitive advantage in
pursuing and priming larger opportunities, and give us outstanding
credentials to compete for and win next-generation IT programs
across the federal marketplace.”
CACI provides information solutions and services in support of
national security missions and government transformation for
Intelligence, Defense, and Federal Civilian customers. A Fortune
magazine World’s Most Admired Company in the IT Services industry,
CACI is a member of the Fortune 1000 Largest Companies, the Russell
2000 Index, and the S&P SmallCap600 Index. CACI provides
dynamic careers for over 20,000 employees worldwide. Visit
www.caci.com.
There are statements made herein which do not address historical
facts, and therefore could be interpreted to be forward-looking
statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Such statements are subject to
factors that could cause actual results to differ materially from
anticipated results. The factors that could cause actual results to
differ materially from those anticipated include, but are not
limited to, the risk factors set forth in CACI’s Annual Report on
Form 10-K for the fiscal year ended June 30, 2015, and other such
filings that CACI makes with the Securities and Exchange Commission
from time to time. Any forward-looking statements should not be
unduly relied upon and only speak as of the date hereof.
CACI-Acquisition
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CACI International IncCorporate Communications and Media:Jody
Brown, Executive Vice President, Public Relations(703)
841-7801jbrown@caci.comorInvestor Relations:David Dragics, Senior
Vice President, Investor Relations(866)
606-3471ddragics@caci.com
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