Navigation Links
Stanley to Acquire Oberon Associates
Date:6/10/2008

ARLINGTON, Va., June 10 /PRNewswire-FirstCall/ -- Stanley, Inc. (NYSE: SXE), a leading provider of systems integration and professional services to the U.S. federal government, announced today that it has entered into a definitive agreement to acquire Oberon Associates, Inc. (Oberon), an engineering, intelligence operations and information technology services company. The purchase price will be approximately $170 million in cash, subject to certain working capital and other adjustments as of the closing date.

(Logo: http://www.newscom.com/cgi-bin/prnh/20040106/DCTU010LOGO )

The transaction, which is expected to close during Stanley's fiscal second quarter ending September 30, 2008, is subject to the approval of Oberon's shareholders and other customary closing conditions, including the receipt of regulatory approvals. Shareholders representing approximately 67 percent of Oberon's common stock have entered into a voting and irrevocable proxy agreement to vote their shares in favor of the proposed transaction.

Founded in 2002, Oberon provides engineering, operational intelligence and information technology support to multiple elements of the U.S. Army, in addition to the U.S. Air Force, Defense Information Systems Agency, Transportation Security Administration and several agencies throughout the intelligence community. Oberon's areas of expertise include biometrics systems engineering, integration and operational deployment; intelligence community support; communications engineering; and information technology and enterprise data management. Oberon is headquartered in Manassas, Va., and has more than 600 employees working in 10 regional offices in the United States and seven countries abroad.

Stanley expects Oberon to generate revenue of approximately $80 million in its fiscal year 2008 ending June 30, 2008. Going forward, Stanley anticipates Oberon's annual revenue will meet or exceed Stanley's annual organic growth goals of 10 to 15 percent and that the transaction will be accretive to its fiscal year 2009 earnings.

"We are looking forward to welcoming Oberon to Stanley," said Phil Nolan, Stanley's chairman, president and CEO. "This transaction is consistent with Stanley's growth strategy that calls for the development of new customers, contract vehicles and service offerings via mergers and acquisitions. In addition, it reinforces Stanley's strategy of expanding our presence in key markets positively impacted by the Base Realignment and Closure process. Oberon complements our commitment to delivering the highest quality of support for our customers' mission-essential programs and fostering an employee- focused culture. We also believe this acquisition will provide meaningful cross-selling opportunities as we seek to continue our strong record of organic growth."

"We are excited about the opportunity to bring a new, but complementary, set of customers and technical expertise to Stanley," said Jodi L. Johnson and David L. Young, co-founders of Oberon. "We are also very optimistic that the transition will be a smooth one because of our similar cultures and a mutual urgency to ensure customer satisfaction."

KippsDeSanto & Co. is acting as exclusive financial advisor to Oberon in this transaction.

Stanley management will conduct a conference call today at 5:00 pm EDT to discuss the Oberon transaction. To obtain the dial-in number, please contact Rashida Gofney at (703) 310-3209. The conference call will be broadcast simultaneously on the Investor Relations page of Stanley's website, http://www.stanleyassociates.com. Investors are advised to log on to the website at least 15 minutes prior to the call to register, download and install any necessary audio software. An archive of the webcast will be available for one week following the live event.

About Stanley

Stanley (NYSE: SXE) is a provider of information technology services and solutions to U.S. defense and federal civilian government agencies. Stanley offers its customers systems integration solutions and expertise to support their mission-essential needs at any stage of program, product development or business lifecycle through five service areas: systems engineering, enterprise integration, operational logistics, business process outsourcing, and advanced engineering and technology. Headquartered in Arlington, Va., the company has approximately 3,700 employees at over 100 locations in the U.S. and worldwide. In 2008 and 2007, Stanley was recognized by FORTUNE(R) magazine as one of the "100 Best Companies to Work For." Please visit http://www.stanleyassociates.com for more information.

Any statements in this press release about our future expectations, plans and prospects, including statements containing the words "estimates," "anticipates," "plans," "expects" and similar expressions, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors discussed in our Annual Report on Form 10-K for the fiscal year ended March 31, 2008, as filed with the Securities and Exchange Commission (SEC), and additional filings we make with the SEC. In addition, the forward-looking statements included in this press release represent our views as of the date of this release. We assume no obligation to update publicly or revise any forward-looking statements made herein or any other forward-looking statements made by us, whether as a result of new information, future events or otherwise.


'/>"/>
SOURCE Stanley, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology news :

1. Study finds environmental tests help predict hospital-acquired Legionnaires disease risk
2. bioMETRX, Inc. Acquires Patent for Biometric Padlock
3. Image Solutions, Inc. Acquires Zurich Biostatistics, Inc.
4. bioMETRX, Inc. Acquires Patent for Biometric Padlock
5. Argonne National Lab acquires first SiCortex SC5832
6. Titanium Group Signs Letter of Intent to Acquire Multimilion Dollar Medical Software Company and Its Existing Sales Network
7. Titanium Group Signs Letter of Intent to Acquire Multimilion Dollar Medical Software Company and Its Existing Sales Network
8. Biotech Co. founded by UCLA Scientists to be acquired by Astellas, Pharma Inc.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/20/2016)... 2016 Securus Technologies, a leading provider ... public safety, investigation, corrections and monitoring announced that ... has secured the final acceptance by all three ... Access Systems (MAS) installed. Furthermore, Securus will have ... installed by October, 2016. MAS distinguishes between legitimate ...
(Date:6/9/2016)... -- Paris Police Prefecture ... to ensure the safety of people and operations in several ... tournament Teleste, an international technology group specialised in ... that its video security solution will be utilised by ... safety across the country. The system roll-out is scheduled for ...
(Date:6/2/2016)... June 2, 2016   The Weather Company , an ... Ads, an industry-first capability in which consumers will be able ... to ask questions via voice or text and receive relevant ... Marketers have long sought an advertising solution ... can be personal, relevant and valuable; and can scale across ...
Breaking Biology News(10 mins):
(Date:6/23/2016)... 2016 A person commits a crime, and the ... track the criminal down. An outbreak of foodborne ... Administration (FDA) uses DNA evidence to track down the bacteria ... far-fetched? It,s not. The FDA has increasingly used a complex, ... foodborne illnesses. Put as simply as possible, whole genome sequencing ...
(Date:6/23/2016)...  The Prostate Cancer Foundation (PCF) is pleased to announce 24 ... for prostate cancer. Members of the Class of 2016 were selected from a ... Read More About the Class of 2016 PCF Young Investigators ... ... ...
(Date:6/23/2016)... ... June 23, 2016 , ... Supplyframe, the Industry Network for ... Design Lab . Located in Pasadena, Calif., the Design Lab’s mission is to ... are designed, built and brought to market. , The Design Lab is Supplyframe’s ...
(Date:6/23/2016)... June 23, 2016 Apellis Pharmaceuticals, Inc. ... clinical trials of its complement C3 inhibitor, APL-2. ... multiple ascending dose studies designed to assess the ... subcutaneous injection in healthy adult volunteers. ... as a single dose (ranging from 45 to ...
Breaking Biology Technology: