ARLINGTON, Va., Sept. 24 /PRNewswire-FirstCall/ -- CACI International Inc (NYSE: CAI) announced today that it has signed a definitive agreement to acquire Athena Innovative Solutions, Inc. from Veritas Capital. Athena provides specialized services and solutions to the Intelligence Community and national security clients. Closing is anticipated by November 1, 2007 .
Athena is headquartered in Arlington, Virginia, with offices in Northern
Virginia, Charlottesville, and Tampa , Florida. The company has a full-time
staff of more than 600 professionals, over 95 percent of whom possess security
clearances at the Top Secret level, or above. The company offers expertise in
five core competencies: human intelligence, counterintelligence,
counterterrorism, all-source analysis, and strategic policy development. More
than 90 percent of Athena's services are provided on-site at customer
locations throughout the U.S. and abroad. Athena's revenue is expected to be
CACI President of U.S. Operations Bill Fairl said, "The acquisition of Athena will be of considerable strategic value to CACI. Athena is an elite provider of specialized professional services and solutions to America's intelligence organizations, with experienced and highly qualified specialists in multiple areas of critical support. We will be proud to welcome these talented teams and individuals to CACI to increase the services we deliver to help our federal government clients meet their most challenging intelligence and national security requirements."
According to CACI President and Chief Executive Officer Paul Cofoni, "At CACI, we believe intelligence is part of America's front line of defense in countering terrorist threats, and we are committed to enhancing our nation's intelligence capabilities. The acquisition of Athena will give us additional intelligence expertise to meet this objective. We expect the professionals from Athena will be a great fit with our CACI culture, and we have great confidence they will grow and succeed on our team. We look forward to another successful strategic acquisition that will enable us to provide more value for our clients and high returns for our shareholders as we grow our company."
Athena President and CEO James C. King ( Lieutenant General , U.S. Army, Ret.) stated, "By joining CACI, we enhance Athena's core strength -- the outstanding team of people that help our customers and nation solve the challenges of our changing world. We thank Veritas Capital for their leadership and support. We look forward to joining the men and women of CACI. We value an entrepreneurial spirit and are dedicated to providing quality customer support through individual commitment, accountability, and innovative thinking."
"We are very pleased that Athena will join the CACI team," said Robert B. McKeon, Founder and CEO of Veritas Capital. "The union of CACI and Athena will provide invaluable services to the Intelligence Community and national security clients. We are pleased for all of Athena's constituencies, and we wish Jim King and his team the best."
A respected leader for solving complex challenges in a changing environment, Athena Innovative Solutions, Inc. creatively applies innovation, high standards and experience in the national security, technology and policy arenas for our government and industry partners. We offer a wide range of products and services designed to address all manner of national security issues. Athena is proud to be at the forefront of the war on terrorism, assisting the United States in fighting terrorism and preventing further attacks on our homeland. Athena Innovative Solutions is known and respected for providing unparalleled people with expertise, insight and commitment to deliver innovative solutions that result in assured, reliable and consistent success for our clients.