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."
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