Acquisition to Expand CACI's Support for Intelligence Community
ARLINGTON, Va., Oct. 3 /-- 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 $32 million in revenue for calendar year 2007. With the acquisition, CACI will continue to expand its presence within the Intelligence Community and increase the professional, technical, and engineering consulting capabilities it offers clients.
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.
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