CACI Completes Acquisition of L-3 National Security Solutions, Inc.
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.
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."
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.
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."
ABOUT CACI
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.