Booz Allen Hamilton Holding Corporation (NYSE:BAH), the parent company of consulting firm Booz Allen Hamilton, today announced it closed its purchase of the Defense Systems Engineering and Support (DSES) division of ARINC Incorporated on November 30, 2012. The transaction adds to Booz Allen’s workforce approximately 1,000 employees, based in various locations nationwide, many of which align with existing Booz Allen offices. Booz Allen paid $154 million in cash to ARINC, and expects the transaction to be accretive to its earnings in fiscal 2014, which begins April 1, 2013.
“With the acquisition of DSES, we’re advancing our strategy to build on Booz Allen’s existing engineering capabilities, and to bring to our clients broader and deeper expertise in technical areas such as C4ISR where we see growth potential,” said Ralph W. Shrader, Booz Allen’s Chairman, Chief Executive Officer, and President. “DSES also brings to us additional existing technical support contracts for the US Navy and Air Force, supplementing our strong presence in the defense market. Beyond that, we expect that the match of outstanding people, client relationships, and a focus on client mission – as well as the proven track record of quality delivery by DSES – will strengthen our business going forward.”
About Booz Allen Hamilton
Booz Allen Hamilton is a leading provider of management and technology consulting services to the U.S. government in defense, intelligence, and civil markets, and to major corporations, institutions, and not-for-profit organizations. Booz Allen is headquartered in McLean, Virginia, employs approximately 25,000 people, and had revenue of $5.86 billion for the 12 months ended March 31, 2012.Forward Looking Statements This press release contains, or may be deemed to contain, “forward-looking statements” (as defined in the U.S. Private Securities Litigation Reform Act of 1995). Examples of forward-looking statements include information concerning the expected impact of the DSES acquisition and the acquisition’s impact to Booz Allen Hamilton’s earnings. These statements give Booz Allen Hamilton’s current expectation of future events or its future performance and do not relate directly to historical or current events. A number of factors could cause Booz Allen Hamilton’s future actions and related results to vary from any expectations or goals expressed in, or implied by, the forward-looking statements included in this press release, possibly to a material degree. Some of these factors include, but are not limited to, the risk factors set forth in Booz Allen Hamilton’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on May 30, 2012. All forward-looking statements included in this press release speak only as of the date made, and, except as required by law, Booz Allen Hamilton undertakes no obligation to update or revise publicly any such forward-looking statements, whether as a result of new information, future events, or otherwise.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts