DynCorp International Completes Acquisition of Phoenix Consulting Group, Inc.
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FALLS CHURCH, Va.--(Business Wire)-- DynCorp International LLC, a wholly-owned subsidiary of DynCorp International Inc. (NYSE: DCP), announced today it has completed the acquisition of Phoenix Consulting Group, Inc. The consummation of the Phoenix transaction enables DynCorp International to provide, through the Phoenix Training Center, proprietary training courses, management consulting and augmentation services to the intelligence community. The acquisition expands DynCorp International`s services to the intelligence community and national security clients. Phoenix will operate as a wholly-owned subsidiary of DynCorp International LLC and will be consolidated as a business unit within the Global Stabilization and Development Solutions business segment. Phoenix has offices in Virginia and Arizona and employs approximately 400 full and part-time professionals, most of whom possess security clearances, many at the Top Secret level. Through the acquisition of Phoenix, DynCorp International`s training and service offerings will include: * Highly specialized and proprietary training courses to experienced professionals in the intelligence, counterintelligence, special operations and law enforcement communities. * Strategic, professional, and technical advisory and support services to government and military organizations. "I am very pleased we have completed this important acquisition, which demonstrates our focus on accelerating growth, expanding service offerings and penetrating new segments," said DynCorp International President and CEO William L. Ballhaus. "We look forward to integrating the skills and services offered by Phoenix, which will enable DynCorp International to extend its ability to deliver compelling services to the intelligence community and other national security clients." About DynCorp International DynCorp International Inc., 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. 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 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. DynCorp International Media Contact: Douglas Ebner, 817-224-7822 or Investor Contact: Mike Thorne, 817-224-7510 Copyright Business Wire 2009