Information Analysis Announces Reorganization of Government Services Business & Election of Two New Directors

Rhea-AI Summary

Information Analysis Incorporated (NASDAQ: IAIC) announced a strategic reorganization to align its legacy services business with future growth objectives. The professional services sector will merge with the Tellenger subsidiary, which will have its own advisory board led by experienced leaders Stan Reese and Charles May. The board of IAI will see the addition of James C. DiPaula and Rear Admiral (Ret.) Paul Becker, enhancing expertise in technology and intelligence. CEO Jamie Benoit emphasized this transformation aims to leverage capabilities for long-term shareholder value.

Positive

• Creation of a dedicated advisory board for Tellenger enhances strategic focus.
• New board members bring extensive expertise in technology and intelligence.
• CEO Jamie Benoit is implementing a corporate transformation to drive growth.

Negative

• The restructuring may indicate previous inefficiencies in the legacy business operations.
• Potential concerns about continuity during the transition phase with new leadership.

FAIRFAX, Va., Dec. 03, 2021 (GLOBE NEWSWIRE) -- Information Analysis Incorporated (NASDAQ: IAIC), a leading information technology services and modernization company, announced today that it is restructuring and reorganizing its legacy services business and new Board appointments to be better aligned with its vision for future growth.

Under the reorganization, IAI’s existing professional services business will be combined with its Tellenger subsidiary. Tellenger will have a separate advisory board, led by Stan Reese and Charles May. Mr. Reese has more than 25 years of senior management experience, including over a decade of strategic development and planning. Prior to serving as President of IAI, he served briefly as its CEO and was Chief Operating Officer for 20 years. Lieutenant General Charles A. May USAF (Retired) is a consultant focusing on national security and defense conversion issues. In 1992, he retired from the Air Force where he last served as Assistant Vice Chief of Staff at the Headquarters, US Air Force in Washington D.C. He is a graduate of the US Air Force Academy, where he once served as Associate Professor of Political Science.

This reorganization creates two open spots on the IAI Board of Directors, which will be filled by James C. “Chip” DiPaula and Rear Admiral (Ret.) Paul Becker. Both appointees bring leadership and expertise in the intelligence community, technology, and marketing.

IAI CEO Jamie Benoit noted, ‘’Since joining IAI three months ago I have been working with our board and senior executives to establish a proper foundation for growth. In providing Tellenger with its own advisory board, and moving IAI’s government services business into Tellenger, we are ensuring that we will be able to leverage Tellenger’s capabilities and maximize our opportunities for long-term growth. Stan Reese and Charlie May continue to be key leaders in our company and by stepping into new roles they are putting Tellenger on a path to big things. Upon the imminent closing of the acquisition of Gray Matters we will operate separate software and government services businesses which we believe is the best way to maximize long-term shareholder value.”

RADM (Ret.) Paul Becker

Rear Admiral (Ret.) Paul Becker served with distinction in the United States Navy. In a career that spanned over 30 years as a Naval Intelligence Officer in peace, crisis and combat, RADM Becker served assignments as the Director of Intelligence (J2) for the Joint Chiefs of Staff, Director of Intelligence, United States Pacific Command, Vice Director of Intelligence, Joint Chiefs of Staff and Director of Intelligence, International Security Assistance Force, Afghanistan.

From 2016-17 RADM Becker led the Presidential Transition Intelligence Community Landing Team providing policy input and strategic guidance to new Administration Secretaries and senior leaders.

RADM Becker is the founder of the Becker T3 Group LLC, a business focused on global risk management, business intelligence, cyber security and organizational leadership. He holds an MPA from Harvard's Kennedy School of Government and a BS from the U.S. Naval Academy.

Chip DiPaula

Chip DiPaula is an accomplished senior executive who has launched, led and exited high-growth technology organizations and succeeded at the highest levels of government and politics. A recognized expert in digital marketing, Chip is the Co-Founder of Flywheel Digital, a pioneering digital advertising firm that optimizes ecommerce sales for the world’s largest brands, including Amazon.

DiPaula also serves as the Chairman of the University System of Maryland Medical System, with 25,000+ employees and more than $4 billion in annual revenue. From 2005 to 2007, DiPaula served as Chief of Staff to the Governor of Maryland. In 2000, he served as Chief Executive Officer of the Republican National Convention – the youngest person ever to run a national convention.

With diverse expertise from his career as an entrepreneur, technology and real estate executive, public servant, and political strategist, DiPaula has spent his career successfully enabling organizations to set and achieve ambitious strategic goals. He is a graduate of Towson University.

“The addition of Admiral Paul Becker and Chip DiPaula are important components of our transformation strategy,” said Jamie Benoit, IAI Chairman and CEO. He added, “Paul Becker’s deep understanding of the intersection of intelligence operations and commercial technology will be vital as our team positions itself in the government markets. Chip DiPaula’s unique expertise in digital marketing and corporate communications is an equally critical foundation in our larger strategy. I’m looking forward to their partnership during this exciting time.”

About Information Analysis Incorporated

Information Analysis Incorporated (www.infoa.com), headquartered in Fairfax, Virginia, is an information technology products and services company. The Company specializes in software conversions, systems modernization and security.

In August 2021, IAI appointed Jamie Benoit Chairman and CEO to lead a corporate transformation of IAI into a provider of Zero Trust technology solutions to commercial and government organizations.

Additional information for investors

This release may contain forward-looking statements regarding the Company's business, customer prospects, or other factors that may affect future earnings or financial results. Such statements involve risks and uncertainties which could cause actual results to vary materially from those expressed in the forward-looking statements. Investors should read and understand the risk factors detailed in the Company's 10-K for the fiscal year ended December 31, 2020 and in other filings with the Securities and Exchange Commission.

For additional information contact:

Jeremy Hellman, CFA
Vice President
The Equity Group Inc.
(212) 836-9626

Matt Sands, Sr. Vice President
msands@infoa.com
(703) 293-7925

FAQ

What is the recent restructuring announcement by IAIC?

IAIC announced a reorganization of its legacy services business by merging it with the Tellenger subsidiary to better align with growth goals.

Who are the new board members appointed to IAIC?

IAIC has appointed James C. DiPaula and Rear Admiral (Ret.) Paul Becker to its Board of Directors.

How does the reorganization affect IAIC's business strategy?

The reorganization aims to leverage Tellenger's capabilities and maximize long-term growth opportunities, according to CEO Jamie Benoit.

What expertise do the new board members bring to IAIC?

DiPaula brings digital marketing and corporate communications expertise, while Becker has extensive experience in intelligence operations and technology.

What impact will the reorganization have on IAIC shareholders?

The reorganization is intended to maximize long-term shareholder value by enhancing strategic alignment and operational efficiency.