ARLINGTON, Va., Oct. 3 /PRNewswire-FirstCall/ -- CACI International Inc (NYSE: CAI) announced today that it has signed a definitive agreement to acquire Dragon Development Corporation (DDC). DDC is a rapidly growing, leading provider of professional, technical, and engineering services to the Intelligence Community. Closing is anticipated by November 1, 2007 .
DDC is headquartered in Columbia, Maryland, and currently has more than 75
employees, all of whom hold Top Secret clearances with special access.
Providing services to the member agencies of the U.S. Intelligence Community,
DDC maintains core business areas in systems and software engineering;
operations research and systems analysis; advanced research and development
support; and program, business, and acquisition management. DDC has
experienced significant growth over the past few years, and the company
expects to exceed
CACI President of U.S. Operations Bill Fairl said, "CACI is pleased to announce our intent to bring Dragon Development Corporation onto our team. DDC employees have an outstanding reputation among their clients in the Intelligence Community. We look forward to welcoming them to our CACI family of dedicated professionals serving our nation's highest priorities, where they can help us continue to offer valuable professional services and information technology to the Intelligence Community."
Paul Cofoni, CACI President and Chief Executive Officer, stated, "Our intent to acquire Dragon Development Corporation demonstrates CACI's continuing leadership as a strategic consolidator. DDC will be a good match with our CACI culture of quality and excellence, and our dedication to national security, intelligence, homeland security, and the modernization of government services. We are committed to strategic growth that expands the capabilities we can provide to clients, enhances shareholder value, and increases our scale."
Dragon Development Corporation President and Chief Operating Officer Chris Prestel said, "We are very enthusiastic about joining the CACI team. We believe Dragon is a great fit with CACI, and our solutions will complement CACI's to provide additional offerings to our combined client base. At the same time, CACI's deep resources will enable us to expand our current support while sustaining the excellence on which we have built our company."
CACI International Inc provides the IT and network solutions needed to prevail in today's new era of national security, intelligence, and e- government. From systems integration and managed network solutions to knowledge management, engineering, simulation, and information assurance, we deliver the IT applications and infrastructures our federal customers use to improve communications and collaboration, secure the integrity of information systems and networks, enhance data collection and analysis, and increase efficiency and mission effectiveness. Our solutions lead the transformation of national security and intelligence, assure homeland security, enhance decision-making, and help government to work smarter, faster, and more responsively. CACI is a member of the Fortune 1000 Largest Companies of 2007 and the Russell 2000 index. CACI provides dynamic careers for approximately 10,600 employees working in over 120 offices in the U.S. and Europe . CACI is the IT provider for a networked world. Visit CACI on the web at 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 following: the ability to close the acquisition of DDC in a timely manner and successfully integrate its operations; the accretiveness of the DDC transaction to our earnings; regional and national economic conditions in the United States and the United Kingdom , including conditions that result from terrorist activities or war; failure to achieve contract awards in connection with recompetes for present business and/or competition for new business; the risks and uncertainties associated with client interest in and purchases of new products and/or services; continued funding of U.S. Government or other public sector projects in the event of a priority need for funds, such as homeland security, the war on terrorism or rebuilding Iraq ; government contract procurement (such as bid protest, small business set asides, etc.) and termination risks; the results of government investigations into allegations of improper actions related to the provision of services in support of U.S. military operations in Iraq ; individual business decisions of our clients; paradigm shifts in technology; competitive factors such as pricing pressures and/or competition to hire and retain employees (particularly those with security clearances); material changes in laws or regulations applicable to our businesses, particularly in connection with (i) government contracts for services, (ii) outsourcing of activities that have been performed by the government, and (iii) competition for task orders under Government Wide Acquisition Contracts ("GWACs") and/or schedule contracts with the General Services Administration; our own ability to achieve the objectives of near term or long range business plans; and other risks described in the company's Securities and Exchange Commission filings.
SOURCE CACI International Inc