CDI Acquires the Business of DSPCon
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Adds Testing and Analytic Capabilities in Aerospace Engineering Vertical
PHILADELPHIA, Dec. 20, 2010 - CDI Corp. (NYSE: CDI) announced today that it has acquired the business of DSPCon, Inc., an engineering and software development firm headquartered in Bridgewater, New Jersey. With approximately 40 employees, DSPCon creates, sells and services real-time data acquisition and analysis systems used widely in the mechanical design validation of jet engines and satellites. DSPCon also creates and produces embedded systems for turbo-machinery performance monitoring and mechanical failure prediction.
DSPCon becomes part of the CDI-Aerospace vertical organization within the CDI Engineering Solutions division. Financial terms of the cash transaction were not disclosed. The acquisition is expected to be accretive to earnings in 2011.
"The acquisition of DSPCon adds an important testing and analytical component to our aerospace engineering services portfolio and particularly complements our airframe and propulsion systems engineering capabilities," said Denny Vito, Executive Vice President of CDI-Aerospace.
"CDI-Aerospace offers us a terrific platform to expand distribution of our hardware and software solutions, but even more importantly it provides a great environment for the creative growth of our technical, engineering and scientific teams as we create innovative technologies to improve our customers' testing, monitoring and design initiatives," added Al Brower, DSPCon President & CEO.
About CDI
Headquartered in Philadelphia, CDI Corp. (NYSE: CDI) is a leading provider of engineering and information technology outsourcing solutions and professional staffing. Its operating units include CDI Engineering Solutions, CDI IT Solutions, CDI AndersElite Limited, and Management Recruiters International, Inc. With offices throughout North America as well as joint ventures in Kuwait and Mexico, the CDI Engineering Solutions division provides engineering outsourcing, project management and professional services to Global 1000 clients in the aerospace, government services, infrastructure, life sciences and process & industrial markets. Visit CDI at www.cdicorp.com.
SOURCE CDI Corp.
CONTACT:
Vincent J. Webb,
VP, Communications & Marketing,
CDI Corp.,
+1-215-636-1240,
vince.webb@cdicorp.com
Web Site: www.cdicorp.com
