McDonald Bradley Signs Letter of Intent to Acquire Infodata for $7.56 Million
12 Mai 2005 - 5:05PM
PR Newswire (US)
McDonald Bradley Signs Letter of Intent to Acquire Infodata for
$7.56 Million Acquisition to Expand Strategic Presence in
Intelligence Community HERNDON, Va., May 12 /PRNewswire/ --
McDonald Bradley, Inc., a rapidly- growing information technology
solutions provider to the government marketplace, announced today
that it has signed a Letter of Intent to acquire Infodata Systems,
Inc. (OTC:INFD) (BULLETIN BOARD: INFD) , a market leader in
delivering compliance-driven content management solutions to
government agencies, the intelligence community, and commercial
clients. A definitive agreement is expected to be signed within the
next two weeks. The transaction, which is planned to close by July
31, 2005, is subject to approval by Infodata's shareholders and
other customary conditions of closing, including satisfactory
completion of due diligence by McDonald Bradley. Under the terms of
the deal, McDonald Bradley is making a $7.56 million cash offer to
purchase all of the outstanding Infodata shares. Once the deal is
concluded, Infodata will be merged into McDonald Bradley and become
private. Infodata employees will be integrated into various
McDonald Bradley operations and lines of business. "The Infodata
core business is very complementary to and supportive of our work
in Horizontal Fusion across the Department of Defense," said
Kenneth Bartee, President and CEO. "This strategic acquisition
enables us to leverage our expertise in this technology area while
at the same time allows us to quickly expand the McDonald Bradley
presence and our technical proficiency throughout the intelligence
community. I am enthusiastic about welcoming the talented Infodata
team to our Company." McDonald Bradley has an aggressive, strategic
business goal to drive growth through enlarging its foothold in the
intelligence agencies and recently opened an office near Ft. Meade
to facilitate support of current and future projects at the
National Security Administration (NSA). "The McDonald Bradley
acquisition is an exciting, positive step in Infodata's lifecycle,
and represents an excellent opportunity for our employees,
shareholders and customers," said Edwin Miller, President and CEO.
"With the combination of McDonald Bradley's leadership in the
market, solid management team, track record of success and high
growth trajectory, I am delighted that Infodata will be part of an
exciting new future." Infodata solutions enable customers to
efficiently manage tremendous volumes of content, while expanding
automation and streamlining processes. The Company has supported
the specialized needs of the intelligence community for more than
two decades. The Intel division staff represents over 130 years of
domain expertise in information technology around content
management, system development and implementation, document
security processes, testing, operational support, and government
compliance regulations. The Company, with headquarters in Herndon,
VA, has been in business since 1968 and has served thousands of
customers worldwide, including 20 government agencies. Revenue for
the year ending December 31, 2004 was approximately $9.6 million.
BB&T/Windsor Group is serving as financial advisors to McDonald
Bradley in this transaction. About McDonald Bradley McDonald
Bradley is a privately-held information technology solutions
provider to the government marketplace with headquarters in
Herndon, Virginia. Since it was founded in 1985, it has steadily
built an exceptional reputation in delivering IT solutions to
Defense, Intelligence, Homeland Security, Federal Law Enforcement
and Federal Civil clients, averaging 32 percent growth each year
since 1994. Core technology expertise includes: visual intelligence
services, service-oriented architectures, Independent Verification
and Validation (IV&V), and web and systems development
services. McDonald Bradley was ranked 38th on the "Technology Fast
50" list for Virginia by Deloitte & Touche LLP in 2004.
Additionally, Washington Business Journal named the Company as the
region's 15th "Fastest Growing Company." DATASOURCE: McDonald
Bradley, Inc. CONTACT: Liz Sara: m: +1-202-255-0134, or , for
McDonald Bradley, Inc. Web site: http://www.mcdonaldbradley.com/
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