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Acquisition expected to expand DynCorp International’s services to Intelligence
Community and National Security Clients
FALLS CHURCH, Va. – September 28, 2009 -- DynCorp International LLC, a wholly-owned subsidiary of DynCorp International Inc. (NYSE: DCP), has entered into a definitive agreement to acquire 100% of the stock of Phoenix Consulting Group, Inc. Phoenix provides its proprietary training courses and materials and management consulting and augmentation services to the intelligence community. Terms of the transaction were not disclosed. The acquisition is expected to expand DynCorp International's services to the intelligence community and national security clients. DynCorp International intends to fund the purchase price with cash on hand.
Phoenix is a private company headquartered in Alexandria, Virginia. Phoenix has offices in Virginia and Arizona and employs approximately 400 full-time and part-time professionals. Most of these employees possess security clearances, many at the Top Secret level. Phoenix’s offerings include:
• Highly
specialized and proprietary training courses to experienced
professionals within the intelligence, counterintelligence, special
operations and law enforcement communities.
• Strategic, professional level and technical advisory and support services to government and military organizations.
Phoenix will operate as a wholly-owned subsidiary and be consolidated as a business unit within the Global Stabilization and Development Solutions division (GSDS).
"This acquisition is consistent with our goal of accelerating growth, expanding service offerings and penetrating new segments," said DynCorp International President and CEO William L. Ballhaus. "Phoenix's talent complements DynCorp International's business and extends our ability to deliver compelling services to the intelligence community and national security clients. This acquisition will continue to strengthen DynCorp International as a leading provider of specialized mission-critical services to civilian and military government agencies worldwide."
"We are extremely pleased and look forward to joining DynCorp International. This combination will provide us opportunities for expansion of our training and services to meet the changing and challenging conditions our Nation faces in the coming years. DynCorp International and Phoenix share a common commitment to serve willingly, perform relentlessly, and act ethically," said John A. Nolan, III, Chief Executive Officer of Phoenix.
KippsDeSanto & Co. acted as exclusive financial advisor to Phoenix Consulting Group.
The transaction is subject to customary closing conditions and is expected to close during October 2009.
About Phoenix Consulting Group, Inc.
Phoenix
Consulting Group, Inc. and its over 400 employees provide intelligence
training, consultative and augmentation services to a wide range of
client organizations. Phoenix Consulting Group’s offerings include:
• Highly
specialized and relevant training for intelligence,
counterintelligence, special operations and law enforcement personnel.
• Dedicated, experienced personnel for service support to government and military organizations.
• Subject
matter expert and support services to assist the government and
military communities in overcoming the challenges of today and tomorrow.
Phoenix Consulting Group is headquartered in Alexandria, VA. For more information, visit www.intellpros.com.
About DynCorp International
DynCorp
International Inc. (NYSE:DCP), through its wholly-owned subsidiary
DynCorp International LLC, is a provider of specialized
mission-critical services to civilian and military government agencies
worldwide, and operates major programs in law enforcement training and
support, security services, base operations, aviation services,
contingency operations, and logistics support. DynCorp International is
headquartered in Falls Church, Va. For more information, visit www.dyn-intl.com.
Press Release Contacts
DynCorp International Douglas Ebner, 817-224-7822
Safe Harbor Language
Some
of the statements contained in this press release are considered
"forward-looking statements" under the federal securities laws. These
forward-looking statements are based on estimates and assumptions made
by DynCorp International’s (the “Company”) management that, although
believed by the Company to be reasonable, are inherently uncertain.
Forward-looking statements involve risks and uncertainties, including,
but not limited to, economic, competitive, governmental, and
technological factors outside of the Company’s control that may cause
its business, strategy or actual results or events to differ materially
from the statements made herein. These risks and uncertainties may
include, but are not limited to, the following: our ability to close
the acquisition of Phoenix on a timely basis; our ability to integrate
Phoenix into our operations; our substantial level of indebtedness;
policy and/or spending changes implemented by the Obama administration;
termination of key U.S. government contracts; changes in the demand for
services the Company provides; pursuit of new commercial business in
the U.S. and abroad; activities of competitors including bid protests;
changes in significant operating expenses; changes in availability of
or cost of capital; general political, economic and business conditions
in the U.S. and abroad; acts of war or terrorist activities; variations
in performance of financial markets; the inherent difficulties of
estimating future contract revenue; anticipated revenue from indefinite
delivery, indefinite quantity contracts; expected percentages of future
revenue represented by fixed-price and time-and-materials contracts;
and other risks detailed from time to time in the Company’s reports
filed with the Securities and Exchange Commission. Given these risks
and uncertainties, you are cautioned not to place undue reliance on
forward-looking statements. The Company’s actual results could differ
materially from those contained in the forward-looking statements. The
Company undertakes no obligation to publicly update or revise any
forward-looking statement as a result of new information, future events
or otherwise, except as required by law.