SRA Completes Acquisition of Spectrum Solutions Group
November 02 2005 - 3:15PM
PR Newswire (US)
FAIRFAX, Va., Nov. 2 /PRNewswire-FirstCall/ -- SRA International,
Inc. (NYSE:SRX), a leading provider of information technology
services and solutions to the federal government, announced that it
completed the acquisition of Spectrum Solutions Group, Inc., a
privately-held provider of enterprise solutions to the federal
government, effective today. Founded in November 2002, Spectrum
focuses on achieving organizational improvement through the
application of enterprise solutions, such as Oracle and PeopleSoft
applications and technologies. Spectrum serves customers throughout
the federal government, including the Departments of Homeland
Security and Health and Human Services. Spectrum has more than 90
full-time employees who have performed more than 100
implementations of PeopleSoft Applications, Oracle Applications,
and Oracle core technology products. The Company generated revenue
of about $15 million during the previous twelve months. Renny
DiPentima, SRA President and Chief Executive Officer, said, "We
welcome the employees and customers of Spectrum to SRA. Together,
we have the enterprise resource planning (ERP) qualifications and
capabilities to serve federal government customers looking to
modernize, consolidate, and unify their financial, human resources,
and supply chain management systems. We share a common culture and
a common vision, and we are already working together on a number of
promising ERP opportunities within the federal government." About
SRA International, Inc. SRA is a leading provider of information
technology services and solutions -- including strategic
consulting; systems design, development, and integration; and
outsourcing and managed services -- to clients in national
security, civil government, and health care and public health
markets. The Company also delivers business solutions for text and
data mining, contingency and disaster response planning,
information assurance, environmental strategies, enterprise systems
management, and wireless integration. FORTUNE(R) magazine has
chosen SRA as one of the "100 Best Companies to Work For" for six
consecutive years. In 2005, BusinessWeek selected SRA as one of its
"Hot Growth" companies and as an Info Tech 100 Company. The
Company's 4,800 employees serve clients from its headquarters in
Fairfax, Virginia, and offices across the country. For additional
information on SRA, please visit http://www.sra.com/. Any
statements in this press release about future expectations, plans,
and prospects for SRA, including statements containing the words
"estimates," "believes," "anticipates," "plans," "expects," "will,"
and similar expressions, constitute forward-looking statements
within the meaning of The Private Securities Litigation Reform Act
of 1995. Actual results may differ materially from those indicated
by such forward-looking statements as a result of various important
factors, including: our dependence on our contracts with federal
government agencies, particularly within the U.S. Department of
Defense, for substantially all of our revenue, our dependence on
our GSA schedule contracts and our position as a prime contractor
on government-wide acquisition contracts to grow our business, and
other factors discussed in our latest annual report on Form 10-K
filed with the SEC on September 13, 2005. In addition, the
forward-looking statements included in this press release represent
our views as of November 2, 2005. We anticipate that subsequent
events and developments will cause our views to change. However,
while we may elect to update these forward-looking statements at
some point in the future, we specifically disclaim any obligation
to do so. These forward-looking statements should not be relied
upon as representing our views as of any date subsequent to
November 2, 2005. DATASOURCE: SRA International, Inc. CONTACT:
Stuart Davis, VP and Director, Investor Relations, +1-703-502-7731,
, or Stephen Hughes, Executive VP and CFO, +1-703-227-7010, , both
of SRA International, Inc. Web site: http://www.sra.com/
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