PAE Completes Acquisition of Metis Solutions
November 23 2020 - 04:30PM
PAE (NASDAQ: PAE, PAEWW), a global leader in delivering smart
solutions to the U.S. government and its allies, today announced
that it has completed its acquisition of Metis Solutions
Corporation. The transaction expands and builds scale in PAE’s
offerings for intelligence analysis, training and program support —
high priority market areas of the U.S. government and allied
nations.
PAE President and CEO John Heller commented:
“The acquisition of Metis strategically positions
PAE with new and attractive customers and contract vehicles across
the intelligence and defense communities. PAE, combined with Metis
and the recently completed CENTRA Technology acquisition,
significantly expands our capabilities across the intelligence and
national security communities. These acquisitions deliver
significant revenue growth potential as we obtain additional
contract vehicles and further expand PAE’s diverse
skillsets.” In addition to the strategic market
expansion attributes, the acquisition is expected to be accretive
to organic revenue growth, adjusted EBITDA margins and free cash
flow per share.
About PAE
For 65 years, PAE has tackled the world’s toughest
challenges to deliver agile and steadfast solutions to the U.S.
government and its allies. With a global workforce of approximately
20,000 on all seven continents and in approximately 60 countries,
PAE delivers a broad range of operational support services to meet
the critical needs of our clients. Our headquarters is in Falls
Church, Virginia. Find us online at pae.com, on Facebook, Twitter
and LinkedIn.
Forward-Looking Statements
This press release contains a number of
“forward-looking statements” as defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include, but are not limited to, statements about our expectations
and projections regarding the acquisition of Metis Solutions
Corporation, our expectations and projections regarding the
potential impact on our financial performance of the acquisitions
of Metis Solutions Corporation and CENTRA Technology, Inc., PAE’s
possible or assumed future results of operations, financial
results, backlog, estimation of resources for contracts, strategy
for and management of growth, expansion of the business into high
growth and margin market areas, needs for additional capital, risks
related to government contracting generally, including failures to
properly manage projects and subcontractors, susceptibility to
claims, litigation and other disputes, and risks related to public
health crises. These forward-looking statements are based on PAE’s
management’s current expectations, estimates, projections and
beliefs, as well as a number of assumptions concerning future
events.
These forward-looking statements are not guarantees
of future performance, conditions or results, and involve a number
of known and unknown risks, uncertainties, assumptions and other
important factors, many of which are outside PAE’s management’s
control, that could cause actual results to differ materially from
the results discussed in the forward-looking statements.
Forward-looking statements included in this release
speak only as of the date of this release. PAE does not undertake
any obligation to update its forward-looking statements to reflect
events or circumstances after the date of this release except as
may be required by the federal securities laws.
For investor inquiries regarding
PAE:
Mark ZindlerVice President Investor
RelationsPAE703-717-6017mark.zindler@pae.com
For media inquiries regarding
PAE:
Terrence NowlinSenior Communications
ManagerPAE703-656-7423terrence.nowlin@pae.com
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