PAE Completes Acquisition of CENTRA Technology
21 November 2020 - 8:30AM
PAE (NASDAQ: PAE, PAEWW), a global leader in delivering smart
solutions to the U.S. government and its allies, today announced
that it has completed its acquisition of CENTRA Technology, Inc.
The transaction brings new, value-added service and technology
offerings to PAE’s portfolio, including intelligence analysis,
communication systems integration and research and development
services.
PAE President and CEO John Heller commented:
“The acquisition of CENTRA expands PAE’s addressable market into
new, attractive mission-critical business areas, opening up
important higher growth and margin market areas for the worldwide
PAE enterprise. The combination of PAE’s and CENTRA’s capabilities
and experience will position PAE to bid a significantly expanded
pipeline of opportunities that were previously not actionable to
PAE prior to the acquisition. In addition, through the combination
with CENTRA, PAE adds uniquely qualified employees to our global
workforce with subject matter expertise across a broad range of
critical national security issues.” This transaction
brings together complementary capabilities and customer
relationships, as well as an attractive IDIQ contract portfolio, to
help accelerate PAE’s long-term growth strategy. The acquisition
strengthens PAE's intelligence, defense and national and homeland
security businesses in areas of high priority for the U.S. federal
government.
About PAE
For 65 years, PAE has tackled the world’s
toughest challenges to deliver agile and steadfast solutions to the
U.S. government and its allies. With a global workforce of
approximately 20,000 on all seven continents and in approximately
60 countries, PAE delivers a broad range of operational support
services to meet the critical needs of our clients. Our
headquarters is in Falls Church, Virginia. Find us online at
pae.com, on Facebook, Twitter and LinkedIn.
Forward-Looking Statements
This press release contains a number of “forward-looking
statements” as defined in the Private Securities Litigation Reform
Act of 1995. These forward-looking statements include, but are not
limited to, statements about our expectations and projections
regarding the acquisition of CENTRA Technology, Inc., PAE’s
possible or assumed future results of operations, financial
results, backlog, estimation of resources for contracts, strategy
for and management of growth, expansion of the business into high
growth and margin market areas, needs for additional capital, risks
related to government contracting generally, including failures to
properly manage projects and subcontractors, susceptibility to
claims, litigation and other disputes, and risks related to public
health crises. These forward-looking statements are based on PAE’s
management’s current expectations, estimates, projections and
beliefs, as well as a number of assumptions concerning future
events.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside PAE’s management’s control, that
could cause actual results to differ materially from the results
discussed in the forward-looking statements.
Forward-looking statements included in this release speak only
as of the date of this release. PAE does not undertake any
obligation to update its forward-looking statements to reflect
events or circumstances after the date of this release except as
may be required by the federal securities laws.
For investor inquiries regarding PAE:
Mark ZindlerVice President Investor
RelationsPAE703-717-6017mark.zindler@pae.com
For media inquiries regarding PAE:
Terrence NowlinSenior Communications
ManagerPAE703-656-7423terrence.nowlin@pae.com
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