McDonald Bradley Officially Completes Infodata Acquisition
26 August 2005 - 4:25PM
PR Newswire (US)
Infodata Shareholders Approve Company Sale HERNDON, Va., Aug. 26
/PRNewswire-FirstCall/ -- McDonald Bradley, Inc., a rapidly-growing
information technology solutions provider to the government
marketplace, announced today that it has officially closed on the
acquisition of 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. The Infodata shareholders
officially approved the company's sale during a shareholder meeting
held on August 22nd. The acquisition by McDonald Bradley is a cash
transaction for 100 percent of the stock of Infodata. The final
transaction price is $7.05 million. Infodata stockholders will
receive $1.09 per share on a fully diluted basis. Infodata
employees are now officially integrated into various McDonald
Bradley operations and lines of business. Approximately 32 of the
former Infodata staff hold a "top secret" clearance, adding
significant resources to the Company's defense and intelligence
community practice area. Much of the core focus of the Infodata
business is complementary to and supportive of McDonald Bradley's
work in Horizontal Fusion across the Department of Defense.
According to Kenneth Bartee, president and CEO of McDonald Bradley,
"I am delighted to announce the successful completion of this
acquisition. The Company gains new resources, new customers and new
strengths that together will add to the value we can bring to the
defense and intelligence agencies and will increase our ability to
effectively respond to larger-scale procurement opportunities."
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, Mobile: +1-202-255-0134, or , for McDonald Bradley, Inc. Web
site: http://www.mcdonaldbradley.com/
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