CACI Announces Intent to Acquire Wexford Group International
31 May 2007 - 7:05AM
PR Newswire (US)
Acquisition Expands CACI's Business With U.S. Army, Department of
Defense Agencies ARLINGTON, Va., May 30 /PRNewswire-FirstCall/ --
CACI International Inc (NYSE:CAI) announced today that it has
signed a definitive agreement to purchase the stock of The Wexford
Group International (WGI). Wexford is an employee-owned consulting
firm serving federal government clients in both domestic and
international locations. Terms of the transaction were not
disclosed. Closing is anticipated during CACI's fourth fiscal
quarter that ends June 30, 2007. Wexford is headquartered in
Vienna, Virginia, with offices in North Carolina, Kansas, and
Georgia. The company provides solutions for acquisition management,
operational applications of technology, strategic communications,
and management, organization, and performance. Wexford's revenue is
expected to be approximately $100 million for its fiscal year
ending December 2007. CACI anticipates the transaction will be
accretive to CACI's fiscal year ending June 30, 2008. Wexford has a
full-time staff of more than 190 professionals, augmented by
subject matter experts. Major clients include Departments of the
Army, Navy, and Air Force as well as Department of Defense (DoD)
organizations such as the Defense Information Systems Agency (DISA)
and the Deployment Health Support Directorate. With the
acquisition, CACI will expand its presence within the defense
community, in both the U.S. and abroad, and increase the management
and technical consulting capabilities it offers clients. According
to CACI President of U.S. Operations Paul Cofoni, "CACI welcomes
the employees of The Wexford Group International. As they join our
team of dedicated professionals, they will bring seasoned expertise
in business, government, and the military, with proven skills in
leadership and management. Their acquisition will provide CACI with
greater capabilities to offer our clients in the key defense
market, and will give us a client base that both complements and
expands our own." Dr. J.P. (Jack) London, CACI Chairman, President,
and CEO, said, "We believe The Wexford Group International will be
a great fit with our CACI culture of quality client service and
best value. Moreover, Wexford's outstanding record of revenue and
business growth gives us great confidence they will grow and
succeed on our team. With this transaction, CACI looks forward to
another highly successful strategic acquisition that expands our
client support, enhances shareholder value, and increases our
scale." Wexford President and CEO William H. Reno stated, "The
Wexford Group International is very excited and honored to join the
CACI family of businesses. We feel that our cultures are compatible
and that the integration of our two companies will be a great
success." 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 1000 index. CACI provides dynamic careers for
approximately 10,100 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 http://www.caci.com/. There are statements
made herein which do not address historical facts and, therefore
could be interpreted to be forward-looking statements as that term
is defined in the Private Securities Litigation Reform Act of 1995.
Such statements are subject to factors that could cause actual
results to differ materially from anticipated results. The factors
that could cause actual results to differ materially from those
anticipated include, but are not limited to, the following:
regional and national economic conditions in the United States and
the United Kingdom, including conditions that result from terrorist
activities or war; failure to achieve contract awards in connection
with recompetes for present business and/or competition for new
business; the risks and uncertainties associated with client
interest in and purchases of new products and/or services;
continued funding of U.S. Government or other public sector
projects in the event of a priority need for funds, such as
homeland security, the war on terrorism or rebuilding Iraq;
government contract procurement (such as bid protest, small
business set asides, etc.) and termination risks; the results of
government investigations into allegations of improper actions
related to the provision of services in support of U.S. military
operations in Iraq; individual business decisions of our clients;
paradigm shifts in technology; competitive factors such as pricing
pressures and/or competition to hire and retain employees
(particularly those with security clearances); material changes in
laws or regulations applicable to our businesses, particularly in
connection with (i) government contracts for services, (ii)
outsourcing of activities that have been performed by the
government, and (iii) competition for task orders under Government
Wide Acquisition Contracts ("GWACs") and/or schedule contracts with
the General Services Administration; our own ability to achieve the
objectives of near term or long range business plans; and other
risks described in the company's Securities and Exchange Commission
filings. For investor information contact: David Dragics, Senior
Vice President, Investor Relations (866) 606-3471, For other
information contact: Jody Brown, Executive Vice President, Public
Relations (703) 841-7801, DATASOURCE: CACI International Inc
CONTACT: Investor information - David Dragics, Senior Vice
President, Investor Relations, 1-866-606-3471, ; or Other
information - Jody Brown, Executive Vice President, Public
Relations, +1-703-841-7801, Web site: http://www.caci.com/
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