Essex Completes Acquisition of Cognitive Computing Company
April 30 2004 - 5:47PM
PR Newswire (US)
Essex Completes Acquisition of Cognitive Computing Company
COLUMBIA, Md., April 30 /PRNewswire-FirstCall/ -- Essex Corporation
, announces that it has completed the acquisition of Computer
Science Innovations (CSI) of Melbourne, Florida. The purchase was
completed on April 30, 2004. "CSI is an important part of the total
solutions package we are assembling," commented Leonard Moodispaw,
CEO & President of Essex Corporation. "Their existing projects
and customers are complementary to Essex, and the combination of
our companies opens exciting opportunities for new and innovative
solutions. Solving the tough information problems of the
intelligence and defense community demands fresh ideas and
approaches, such as combining Essex optical and CSI cognitive
processing technologies to form a new architecture for mining
valuable information from vast farms of data. We welcome everyone
at CSI into the growing Essex family, and to add Melbourne, FL and
Phoenix, AZ to our locations." CSI is a profitable company with 35
employees and annual revenue of approximately $7.5 million. The
business is focused on cognitive processing technology, with a
growing engineering services capability. CSI has proprietary
techniques, algorithms, and tools that are used to build custom
"cognitive engines" for a broad range of intelligence, defense, and
commercial customers and applications. "Essex offers CSI improved
access to important customers for our cognitive processing
technology and the resources to pursue them," according to George
Milligan, Chairman & CEO of CSI. "We look forward to new
challenges and fast growth as we join Essex Corporation." About
Essex: Essex creates solutions for today's most advanced signal and
image processing challenges, serving commercial, defense and
intelligence customers. For more information contact Essex
Corporation, 9150 Guilford Road, Columbia MD 21046; Phone
301.939.7000; Fax 301.953.7880; E-mail , or on the Web at
http://www.essexcorp.com/. This press release may contain
"forward-looking statements" within the meaning of the United
States Private Securities Reform Act of 1995. These statements are
based on management's current expectations and are subject to
risks, uncertainty and changes in circumstances, which may cause
actual results, performance or achievements to differ materially
from anticipated results, performance or achievements. All
statements contained herein that are not clearly historical in
nature are forward looking. The forward-looking statements in this
release include statements addressing the following subjects:
future financial condition and operating results. Economic,
business, competitive and/or regulatory factors affecting Essex's
businesses are examples of factors, among others, that could cause
actual results to differ materially from those described in the
forward-looking statements. More detailed information about these
and other factors is set forth in Essex's Annual Report on Form
10-K for the fiscal year ended December 28, 2003. Essex is under no
obligation to (and expressly disclaims any such obligation to)
update or alter its forward-looking statements whether as a result
of new information, future events or otherwise. Contact: Leonard E.
Moodispaw CEO & President 301.939.7000 DATASOURCE: Essex
Corporation CONTACT: Leonard E. Moodispaw, CEO & President of
Essex Corporation, +1-301-939-7000 Web site:
http://www.essexcorp.com/
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