CACI Acquires Enterprise Modernization and Secure Communications Provider ID Technologies

Rhea-AI Summary

CACI International has acquired ID Technologies for $225 million, enhancing its secure network modernization capabilities. The acquisition, closing on December 29, 2021, allows CACI to provide U.S. Government clients with advanced solutions compliant with NSA standards. This strategic move aims to bolster CACI's offerings for the Department of Defense and intelligence agencies, facilitating digital transformation and remote access. CEO John Mengucci emphasized the potential for increased end-user mobility and technology integration for national security.

Positive

• Acquisition enhances CACI's network modernization capabilities.
• Strategic alignment with U.S. Government security requirements.
• Potential for increased market reach among defense and intelligence customers.

Negative

• None.

RESTON, Va.--(BUSINESS WIRE)-- CACI International Inc (NYSE: CACI) announced today it acquired Ashburn, Virginia-based ID Technologies, an innovative enterprise IT, Infrastructure-as-a-Service, and network modernization provider with NSA-compliant Commercial Solutions for Classified (CSfC) technology. The acquisition of ID Technologies expands CACI’s secure network modernization capabilities with CSfC software equipping U.S. Government workers with modern devices to operate virtually anywhere within essential systems that are vital to national security. Additionally, CACI will leverage ID Technologies’ capabilities in product and engineering solutions to deliver cloud, network, and end-user initiatives to customers.

The combined companies will offer Department of Defense, federal civilian agencies, and Intelligence Community customers with complementary software- and Agile-at-scale solutions that support next generation use cases, including digital transformation, mobile and tactical solutions at the edge, and space. With ID Technologies’ CSfC-compliant solutions, customers can support more dispersed workforces by directly addressing today’s secure network and remote access challenges while also leveraging scalable, repeatable technology to deliver the future of network modernization.

John Mengucci, CACI President and Chief Executive Officer, said, “The joining of our companies enhances CACI's technology for both enterprise and mission customers who require CSfC-compliant device solutions and access to sensitive or classified data from remote locations. With ID Technologies, CACI can accelerate end-user mobility and the use of communication outside of secure government-run facilities using secure software-at-scale. ID Technologies' innovative offerings include Infrastructure-as-a-Service business models making it easy for customers to embrace the technology and positioning CACI to expand the customer portfolio."

Prior to the acquisition, ID Technologies was part of The Acacia Group (“Acacia”) portfolio. Gibson, Dunn & Crutcher served as legal advisors to CACI on the transaction. The acquisition closed on December 29, 2021 with a total purchase consideration of $225 million.

About CACI

CACI’s approximately 22,000 talented employees are vigilant in providing the unique expertise and distinctive technology that address our customers’ greatest enterprise and mission challenges. Our culture of good character, innovation, and excellence drives our success and earns us recognition as a Fortune World's Most Admired Company. As a member of the Fortune 500 Largest Companies, the Russell 1000 Index, and the S&P MidCap 400 Index, we consistently deliver strong shareholder value. 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, 2021, 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

View source version on businesswire.com: https://www.businesswire.com/news/home/20220126005842/en/

Corporate Communications and Media:

Jody Brown, Executive Vice President, Public Relations

(703) 841-7801, jbrown@caci.com

Investor Relations:

Daniel Leckburg, Senior Vice President, Investor Relations

(703) 841-7666, dleckburg@caci.com

Source: CACI International Inc

FAQ

What is the significance of CACI's acquisition of ID Technologies?

The acquisition enhances CACI's secure network modernization capabilities and expands its offerings for U.S. Government clients.

How much did CACI pay for ID Technologies?

The total purchase consideration for ID Technologies was $225 million.

When did CACI complete the acquisition of ID Technologies?

The acquisition was completed on December 29, 2021.

What are the expected benefits of the acquisition for CACI's clients?

Clients can expect enhanced secure network solutions and improved access to sensitive data from remote locations.

Who announced the acquisition of ID Technologies?

CACI International Inc announced the acquisition.