McDonald Bradley Signs Definitive Agreement to Acquire Infodata
21 Juni 2005 - 4:49PM
PR Newswire (US)
McDonald Bradley Signs Definitive Agreement to Acquire Infodata
Board of Directors Endorses Transaction HERNDON, Va., June 21
/PRNewswire/ -- McDonald Bradley, Inc., a rapidly- growing
information technology solutions provider to the government
marketplace, announced today that it has signed a definitive
agreement to acquire Herndon-based Infodata Systems Inc.,
(OTC:INFD) (BULLETIN BOARD: INFD) a provider of compliance-driven
content management solutions to government agencies, the
intelligence community, and commercial clients. As announced last
month, the acquisition will be a cash transaction for 100 percent
of the stock of Infodata. Under the terms of the agreement, which
now has been approved by the board of directors of both companies,
Infodata stockholders will receive $1.15 per share on a fully
diluted basis, subject to possible adjustment up to $1.19 per share
and down to $1.09 per share. The transaction, which is slated to
close during the third quarter of 2005, is subject to approval by
Infodata's shareholders and other customary conditions of closing.
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.
McDonald Bradley views this acquisition as a strategic move to fuel
revenue growth by further expansion into the intelligence
community. According to Kenneth Bartee, president and CEO of
McDonald Bradley, "The core Infodata business supports our ongoing
work at the Department of Defense, contributes new yet
complementary technologies and expertise to one of our core
competency areas, and allows us to quickly expand our customer base
and presence in new ways throughout the intelligence agencies."
Edwin Miller, Infodata CEO added that "the merger of McDonald
Bradley and Infodata will provide greater opportunities for our
employees and a larger, broader based company to service our
customers." About Infodata Systems Inc. Infodata Systems Inc. is a
leader in delivering open, enterprise-class content management
solutions that assist in ensuring the integrity and compliance of
content. Based just outside Washington, D.C., in Herndon, VA,
Infodata has over 35 years of proven ability in providing
comprehensive content management solutions to the Government,
Intelligence and Commercial communities. 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/
Copyright