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.
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
|SOURCE Stanley, Inc.|
Copyright©2008 PR Newswire.
All rights reserved