Press release from PR Newswire
PAE Enters Into Definitive Agreement to Acquire CSC Applied Technology Division
Wednesday, May 29, 2013
PAE Enters Into Definitive Agreement to Acquire CSC Applied Technology Division08:30 EDT Wednesday, May 29, 2013
ARLINGTON, Va., May 29, 2013 /PRNewswire/ -- PAE, a leading provider of global mission services, today announced that it has entered into a definitive stock purchase agreement with Computer Sciences Corporation (NYSE: CSC), to purchase its Applied Technology Division. The transaction is expected to close in the summer of 2013.
"The Applied Technology Division has a long and distinguished heritage of providing quality services to the U.S. Department of Defense, NASA and other government customers," said PAE President Mike Dignam. "This acquisition is in line with our strategy to expand PAE's strong portfolio by adding companies with proven capabilities and a customer-focused workforce culture. We look forward to working with the Applied Technology Division as we together address the opportunities in today's dynamic market."
The Applied Technology Division is comprised of approximately 5,400 employees who provide aviation maintenance, base operations and maintenance, test and training range, and space range support at critical U.S. government installations.
The acquisition of the Applied Technology Division will introduce military and space testing and training services as a new capability in PAE's portfolio, and will significantly increase the number of PAE clients in the federal services market.
PAE is a leading provider of global mission services to the U.S. Government and its allied partners. For over fifty years, PAE has provided training, logistics, and operations and maintenance services to support complex missions for customers around the world. PAE currently employs approximately 10,000 people in over 60 countries and is headquartered in Arlington, Va.
For additional information, please visit our website: http://www.pae.com
For further information: Meg Manthey, (703) 717-6175, Meg.Manthey@pae.com