ARLINGTON, Va.--(BUSINESS WIRE)--CACI International Inc (NYSE: CACI) announced today that it has signed a definitive agreement to acquire Paradigm Holdings, Inc. (OTC: PDHO), the parent of Paradigm Solutions Corporation. Paradigm provides cybersecurity and enterprise IT solutions to clients in federal civilian agencies, the Department of Defense, and the Intelligence Community. The acquisition expands CACI’s cybersecurity capabilities and continues to increase its strong presence in supporting national security missions. Closing is anticipated in Fall 2011.
Paradigm is headquartered in Rockville, Maryland and has approximately 185 highly credentialed employees. The company’s specific offerings range from cybersecurity and software engineering to cyber operations that include network security monitoring, designing and upgrading data centers, and managing security and network operations centers. Key clients include the Federal Aviation Administration, Defense Information Systems Agency, and the Departments of State, Energy, and Treasury. Paradigm’s revenue for calendar year 2011 is projected to be $55 million. The acquisition is expected to be accretive to CACI’s earnings per share during its first 12 months.
According to CACI President of U.S. Operations Bill Fairl, “The addition of Paradigm to our team will rapidly expand our current cyber operations capabilities. The acquisition of Paradigm furthers our strategy of providing integrated solutions for cyber operations and enterprise IT/security engineering. In addition, like CACI, Paradigm takes great pride in its employees and their client dedication, so we believe they will be a great fit with our CACI culture.”
Paul Cofoni, CACI President and Chief Executive Officer, said, “The acquisition of Paradigm will increase CACI’s capability to meet our customers’ urgent requirements for secure critical infrastructures and safe, reliable operations across their enterprises. The transaction demonstrates both our sustained focus on innovation and client service excellence, as well as our strategy to continually grow CACI capabilities that are vital to national security.”
Paradigm President and Chief Executive Officer Peter B. LaMontagne stated, “We look forward to being part of the CACI team, adding our solutions in cybersecurity and enterprise IT to CACI’s significant capabilities in these areas and across the spectrum of IT and professional services. Together, we will give our combined client base access to greater solutions, and we intend to open up new markets with new clients. CACI has an empowering corporate culture and is dedicated to employee growth, and we are eager for the opportunities that will be available to us as part of the CACI team.”
About CACI
Celebrating our 50th year in business, CACI sustains an exceptional record of success by providing professional services and IT solutions needed to prevail in the areas of defense, intelligence, homeland security, and IT modernization and government transformation. We deliver enterprise IT and network services; data, information, and knowledge management services; business system solutions; logistics and material readiness; C4ISR solutions; cyber solutions; integrated security and intelligence solutions; and program management and SETA support services. CACI solutions help federal clients provide for national security, improve communications and collaboration, secure information systems and networks, enhance data collection and analysis, and increase efficiency and mission effectiveness. A member of the Fortune 1000 Largest Companies and the Russell 2000 index, CACI provides dynamic careers for approximately 13,800 employees working in over 120 offices in the U.S. and Europe. Visit CACI on the web at www.caci.com and www.asymmetricthreat.net.
About Paradigm Holdings, Inc.
Paradigm Holdings, Inc., (www.paradigmsolutions.com), is a provider of information technology (IT) and business solutions for U.S. Federal Government enterprises. Paradigm specializes in comprehensive information assurance solutions involving cybersecurity and forensics as well as continuity of operations and disaster recovery planning. The Company also provides systems engineering and IT infrastructure support solutions.
Additional Information and Where to Find It
This communication is being made in respect of a proposed merger transaction involving a wholly-owned subsidiary of CACI and Paradigm Holdings, Inc. In connection with the proposed transaction, Paradigm will prepare and file with the Securities and Exchange Commission a Form 8-K and an information statement for the stockholders of Paradigm describing the merger transaction. The Form 8-K and the information statement will contain important information about the proposed transaction. The final information statement will be mailed to Paradigm’s stockholders, and the Form 8-K, the information statement and other documents will be available free of charge at the SEC's internet site (http://www.sec.gov). We are advised that the Form 8-K, the information statement (when it is available) and the other documents may also be obtained for free by accessing Paradigm’s website at www.paradigmsolutions.com.
Forward-Looking Statements
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 successful closing and integration of our acquisition of Paradigm, actual revenue and earnings realized by Paradigm and the performance of the cybersecurity business as well as the risk factors set forth in CACI’s Annual Report on Form 10-K for the fiscal year ended June 30, 2010, Paradigm’s Annual Report on Form 10-K for the fiscal year ended December 31, 2010, and other such filings that CACI and Paradigm make with the Securities and Exchange Commission from time to time. Any forward-looking statements should not be unduly relied upon and only speak as of the date hereof.
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