CACI Completes Acquisition of Azure Summit Technology
October 30 2024 - 4:30PM
Business Wire
CACI International Inc (NYSE: CACI) announced today that it has
completed its acquisition of Azure Summit Technology, a provider of
innovative, high-performance radio frequency (RF) technology and
engineering, focused on electromagnetic spectrum, in an all-cash
transaction for $1.275 billion.
“Today, we welcome more than 300 Azure Summit employees to
CACI,” said John Mengucci, CACI President and Chief Executive
Officer. “This is an extremely compelling acquisition for CACI –
strategically, culturally, and financially. Azure Summit adds
established, complementary technology and expands our customer
presence. This meaningful addition also brings an exceptionally
talented workforce whose commitment, innovation, and focus on
excellence match our own.”
With the closing of this transaction, CACI bolsters its
market-based strategy by expanding its software-defined offerings
in signals intelligence (SIGINT), electronic warfare (EW), and
intelligence, surveillance, and reconnaissance (ISR), across
multiple domains, platforms, and customer sets. In particular, this
acquisition expands the breadth of CACI’s reach and insight into
maritime and airborne platforms.
“I’m excited about the many opportunities that lie ahead to
leverage our expansive solutions to meet our customers’ most
pressing needs in national security,” said Mengucci.
With Azure Summit’s locations in Fairfax, Virginia and
Melbourne, Florida, CACI also expands its U.S. presence.
Concurrent with the completion of the acquisition, the company
entered into a $750 million Term Loan B as planned and previously
disclosed.
About CACI
At CACI International Inc (NYSE: CACI), our 24,000 talented and
dynamic employees are ever vigilant in delivering distinctive
expertise and differentiated technology to meet our customers’
greatest challenges in national security. We are a company of good
character, relentless innovation, and long-standing excellence. Our
culture drives our success and earns us recognition as a Fortune
World's Most Admired Company. CACI is a member of the Fortune 1000
Largest Companies, the Russell 1000 Index, and the S&P MidCap
400 Index. For more information, visit us at www.caci.com.
There are statements made herein which do not address historical
facts, and therefore could be interpreted to be forward-looking
statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Such statements are subject to
factors that could cause actual results to differ materially from
anticipated results. The factors that could cause actual results to
differ materially from those anticipated include, but are not
limited to, the risk factors set forth in CACI’s Annual Report on
Form 10-K for the fiscal year ended June 30, 2024, and other such
filings that CACI makes with the Securities and Exchange Commission
from time to time. Any forward-looking statements should not be
unduly relied upon and only speak as of the date hereof.
CACI-Acquisition-Business Wire
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241030714385/en/
Corporate Communications and Media: Lorraine Corcoran
Executive Vice President, Corporate Communications (703) 434-4165,
lorraine.corcoran@caci.com
Investor Relations: George Price Senior Vice President,
Investor Relations (703) 841-7818, george.price@caci.com
CACI (NYSE:CACI)
Historical Stock Chart
From Dec 2024 to Jan 2025
CACI (NYSE:CACI)
Historical Stock Chart
From Jan 2024 to Jan 2025