CACI International Inc (NYSE: CACI) announced today that it has completed its transaction to acquire Pangia Technologies, LLC. Pangia is a software engineering company that provides technical solutions in the areas of computer network operations, information assurance, mission systems, software and systems engineering, and IT infrastructure support. This acquisition furthers CACI's growth in cybersecurity solutions and increases its already strong presence in the Intelligence Community.
Founded in 1999, Pangia has 110 employees and is headquartered in Fulton, Maryland. Pangia's work has high technical content and includes application development, systems vulnerability auditing and threat analysis, intrusion detection engineering, system security architecture design and development, broadly based software development, and design, development, and support for key systems through their lifecycle. Pangia has contract vehicles with key members of the Intelligence Community, the Department of Homeland Security, the United States Air Force, and the United States Navy. In calendar year 2010, the company's revenue was $18.7 million. The acquisition is expected to be accretive to CACI's earnings per share during its first 12 months.
CACI President of U.S. Operations Bill Fairl said, "Pangia Technologies is a terrific addition to CACI's cybersecurity and software engineering practice. We are very pleased to welcome their innovative and highly experienced workforce into CACI, and we look forward to their contributions as we expand our presence in the Intelligence Community."
According to Paul Cofoni, CACI President and Chief Executive Officer, "The acquisition of Pangia Technologies is particularly important to CACI's focus on building our business in the vitally important area of cybersecurity. Pangia's technology and demonstrated success in solving difficult intelligence problems will help us continue to meet the strong demand for high-value cybersecurity solutions that are essential to our nation's security."
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