CRA International's NeuCo Subsidiary Completes Acquisition of Pegasus Technologies.BOSTON -- CRA See Community Reinvestment Act. International, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CRAI CRAI Centre De Recherche En Architecture Et Ingénierie (French) CRAI Continuous Regional Arterial Infusion CRAI Consorzio per la Ricerca e le Ipplicazioni di Informatica (Italy) ), a worldwide leader in providing economic, financial, and management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects services, today announced that its NeuCo subsidiary completed the previously announced acquisition of Ohio-based Pegasus Technologies, a majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. of Rio Tinto Rio Tinto may refer to:
NeuCo acquired 100 percent of the issued and outstanding shares of Pegasus Technologies. In exchange, Pegasus equity holders received an equity interest equal to 26.5 percent of the outstanding common stock and equivalents in NeuCo post-transaction, and annual cash payments subject to the achievement of certain performance metrics Performance metrics are measures of an organizations activities and performance. Performance metrics should support a range of stakeholder needs from customers, shareholders to employees [1]. with a minimum aggregate value of $3.5 million. In addition, the acquisition has terminated litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. stemming from a patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. lawsuit brought by Pegasus against NeuCo. As a result of the acquisition, CRA's ownership interest in NeuCo has decreased to approximately 36 percent. This reduction will require CRA to de-consolidate NeuCo from CRA's financial statements going forward. CRA will announce its second-quarter fiscal 2006 financial results in early June and will discuss the impact of this transaction on its financial guidance for fiscal 2006 at that time. About NeuCo, Inc. NeuCo is a leading provider of optimization software solutions that help electric power producers reduce emissions, increase efficiency and improve availability. NeuCo provides a comprehensive suite of optimization software products that help power generators improve their emissions, operating and competitive profiles. NeuCo's shareholders currently include CRA International (Nasdaq: CRAI), Rio Tinto Energy America Services Company, NStar and employees. More information about NeuCo can be found on the company's web site at www.neuco.net. About CRA Founded in 1965, CRA International is a leading provider of economic and financial expertise and management consulting services. Working with businesses, law firms, accounting firms, and governments, CRA is the preferred consulting firm for complex assignments with pivotal and high-stakes outcomes. The firm is distinguished by a unique combination of credentials: deep vertical experience in a variety of industries; broad horizontal expertise in a range of functional disciplines; and rigorous economic, financial, and market analysis. CRA offers a proven track record of thousands of successful engagements in regulatory and litigation support, business strategy and planning, market and demand forecasting, policy analysis, and engineering and technology management. Headquartered in Boston, the firm has more than a dozen offices within the United States and ten offices in Canada, Europe, the Middle East, and the Asia Pacific region. Detailed information about CRA is available at www.crai.com. Statements in this press release concerning NeuCo's acquisition of Pegasus Technologies may be considered "forward-looking" statements as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties. Information contained in these forward-looking statements is inherently uncertain, and actual performance and results may differ materially. Such factors that could cause actual results to differ materially from any forward-looking statements contained in this press release include, among others, difficulties in integrating Pegasus' business and personnel into NeuCo's existing operations, undisclosed or unanticipated expenses or liabilities associated with the acquisition, acquisition costs, the potential loss of clients, and the potential loss of key personnel. Further information on these and other potential factors that could affect CRA's financial results is included in CRA's filings with the Securities and Exchange Commission. CRA undertakes no obligation to update any of its forward-looking statements after the date of this press release. |
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