SRA and its subsidiaries employ more than 7,300 employees serving clients from its headquarters in Fairfax, Va., and offices around the world. For additional information on SRA, please visit www.sra.com.Any statements in this press release about future expectations, plans, and prospects for SRA, including statements about the merger, the estimated value of the contract and work to be performed, and other statements containing the words “estimates,” “believes,” “anticipates,” “plans,” “expects,” “will,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Factors or risks that could cause our actual results to differ materially from the results we anticipate include, but are not limited to: (i) the inability to complete the acquisition of SRA (the “Merger”) by an affiliate of Providence Equity Partners LLP due to the failure (a) to obtain stockholder approval for the Merger; (b) to satisfy other conditions to the completion of the Merger, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the transaction; or (c) to obtain the necessary financing arrangements set forth in the debt and equity commitment letters delivered pursuant to the merger agreement; (ii) the outcome of any legal proceedings, regulatory proceedings or enforcement matters that have been or may be instituted against us and others relating to the Merger; (iii) the occurrence of any other event, change or circumstance that could give rise to a termination of the merger agreement; (iv) the fact that, if the Merger is not consummated due to a breach of the merger agreement by Providence Equity Partners LLP or Merger Sub, SRA’s remedy may be limited to receipt of a termination fee of $112.9 million, and if the Merger is not consummated under certain circumstances, SRA is not entitled to receive any such termination fee; (v) if the merger agreement is terminated under specified circumstances, SRA may be required to pay Providence Equity Partners LLP a termination fee of up to $47 million; (vi) the diversion of management’s attention from ongoing business concerns due to the announcement and pendency of the Merger; (vii) the effect of the announcement of the Merger on our business relationships, operating results and business generally; (viii) the effect of the merger agreement’s contractual restrictions on the conduct of our business prior to the completion of the Merger; (ix) the possible adverse effect on the price of our common stock if the Merger is not completed in a timely matter or at all; (x) the amount of the costs, fees, expenses and charges related to the Merger; (xi) reduced spending levels and changing budget priorities of our largest customer, the United States federal government, which accounts for more than 90% of our revenue; (xii) failure to comply with complex U.S. government procurement-related laws and other regulations, including but not limited to, punitive damage liabilities under the False Claims Act and other laws, and financial incentives under so-called “whistleblower” statutes, awarding the whistleblower with a percentage of the recovery if the claims are successfully waged; (xiii) possible delays or overturning of our government contract awards due to bid protests by competitors or loss of contract revenue or diminished opportunities based on the existence of organizational conflicts of interest; (xiv) entry into new markets or foreign legal jurisdictions or operation of our business in various foreign jurisdictions, including incurring liabilities in hazardous areas; (xv) failure to comply with laws such as the Foreign Corrupt Practices Act or regulations on government gratuities; (xvi) failure to comply with Federal Acquisition Regulations and Cost Accounting Standards or the Fair Labor Standards Act; (xvii) security threats, attacks or other disruptions on our information infrastructure, and failure to comply with complex network security and data privacy legal and contractual obligations or to protect sensitive information; (xviii) force majeure incidents in international markets, such as weather, governmental action or inaction, or political unrest; (xix) any violation of third party intellectual rights; (xx) unlimited contractual damages, liability for consequential damages, liquidated damages, or third party product liability associated with some commercial product sales; (xxi) adverse changes in federal government practices such as insourcing; (xxii) delays in the U.S. government adopting appropriations necessary for program funding and future appropriation uncertainties adversely impacting customer spending plans; (xxiii) intense competition to win U.S. government contracts or recompetes and commoditization of services we offer; (xxiv) failure of the customer to fund a contract, issue task orders or exercise options to extend contacts, or our inability to successfully execute awarded contracts; (xxv) any adverse results of audits and investigations conducted by the Defense Contract Audit Agency or any of the Inspectors General for various agencies with which we contract, including, without limitation, any determination that our contractor business systems or contractor internal control systems are deficient; (xxvi) difficulties accurately estimating contract costs and contract performance requirements; (xxvii) challenges in attracting and retaining key personnel or high-quality employees, particularly those with security clearances; (xxviii) failure to manage acquisitions, divestures or restructures successfully, including identifying and valuating acquisitions targets, integrating acquired companies, realizing benefits from such acquisitions, or contingent liabilities associated with divestures; and (xxix) adverse weather conditions or unexpected employee leave patterns reducing our expected billable labor revenue. Actual results may differ materially from those indicated by such forward-looking statements. In addition, the forward-looking statements included in this press release represent our views as of May 5, 2011. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to May 5, 2011.
SRA International, Inc. (NYSE: SRX), a leading provider of technology and strategic consulting services and solutions to government organizations and commercial clients, today announced it is one of the awardees on the Environmental Protection Agency (EPA) Information Technology Solutions – Business Information Strategic Support (ITS-BISS) II contract, with a ceiling of $99.7 million over a five-year base period. The multi-award, indefinite delivery, indefinite quantity (IDIQ) is managed by the EPA’s Office of Environmental Information (OEI). Under the contract, SRA will provide a wide range of IT advisory and assistance services to all of EPA’s program offices and regions. These support services include policy, planning, security, investment management, enterprise and IT architecture, technical studies and assessment, organizational development, training, and communications and outreach activities. “SRA brings a passion for and knowledge of EPA’s mission, from our more than 30 years of support to EPA programs,” said SRA Senior Vice President Steve Tolbert. “SRA is pleased to continue our long-standing partnership, and we look forward to helping EPA navigate the challenges of providing the right information technology to meet their mission in an ever-tightening budget environment.” SRA has been performing similar work as EPA’s partner for more than a decade, having worked on this program’s predecessor contracts, IIASC (1999-2005) and ITS-BISS (2005-2011). SRA is the prime contractor on the award, and is working with partners Ace Info Solutions, Gold Systems, Leadership Practices, List Innovative Solutions, LMI, Phase One Consulting, SONA Networks, Systalex, SOMAT Engineering and TAPE. About SRA International, Inc. SRA and its subsidiaries are dedicated to solving complex problems of global significance for government organizations and commercial clients serving the national security, civil government and global health markets. Founded in 1978, the company and its subsidiaries have expertise in such areas as air surveillance and air traffic management; contract research organization (CRO) services; cyber security; disaster response planning; enterprise resource planning; environmental strategies; IT systems, infrastructure and managed services; learning technologies; logistics; public health preparedness; public safety; strategic management consulting; systems engineering; and wireless integration.