Perot Systems Closes Acquisition of QSS Group, Inc.
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FAIRFAX, Va., Jan. 30 / -- Perot Systems Corporation (NYSE:PER) announced today that it has completed the acquisition of QSS Group, Inc., a U.S. federal government information technology services company based in Lanham, MD.
With this acquisition, Perot Systems Government Services will have more than 3,400 associates serving the federal government and is expected to report 2007 full year revenue of approximately $600 million. Perot Systems also gains several significant government-wide acquisition contracts (GWAC's) and expands both the scope of services and the areas Perot Systems serves within the Department of Homeland Security and the Department of Defense.
"I am pleased to announce the closing of this acquisition and welcome the new associates to the Perot Systems team," said Jim Ballard, President of Perot Systems Government Services. "Perot Systems has defined a clear strategy for growth in the government market and this acquisition demonstrates our continuing commitment to build a business unit that has proven capabilities and a wide breadth of experience in the federal space."
QSS Group's clients include the Army, Coast Guard, Department of Health and Human Services, NASA, NOAA, Department of Treasury and the intelligence community. The company operates as the prime contractor on more than 90 percent of its contracts.
On December 18, 2006 Perot Systems agreed to acquire QSS Group for $250 million in cash.
About Perot Systems
Perot Systems is a worldwide provider of information technology services and business solutions. Through its flexible and collaborative approach, Perot Systems integrates expertise from across the company to deliver custom solutions that enable clients to accelerate growth, streamline operations, and create new levels of customer value. Headquartered in Plano, Texas, Perot Systems reported 2005 revenue of $2.0 billion. The company has more than 20,000 Associates located in North America, Europe, and Asia. Additional information on Perot Systems is available at www.perotsystems.com/ .
FCMN Contact: Joe.McNamara@ps.net
Source: Perot Systems Corporation
CONTACT: Dustee Tucker of Perot Systems Corporation, +1-703-289-8130, or dustee.tucker@ps.net
Web site: www.perotsystems.com/
