Companies Announce Agreement on Final Price Per Share of CACI Acquisition of QuesTech, Inc.ARLINGTON, Va.--(BUSINESS WIRE)--Sept. 17, 1998--CACI International Inc (Nasdaq: CACI CACI - A company developing and marketing SIMSCRIPT, MODSIM and other simulation software products. Telephone: +1 (619) 457-9681. ) and QuesTech, Inc. (Nasdaq: QTEC QTEC Quick Time Electric Cutout ) announced today that they have agreed on a final price adjustment of $0.245 per share reflecting the disposition of QuesTech's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , QuesTech Packaging, Inc. With this agreement, CACI will acquire all outstanding common shares of QuesTech, Inc. for $18.13 per share. The companies also announced that on September 14, 1998, the Federal Trade Commission granted CACI's request for early termination of the Hart-Scott-Rodino Act Hart-Scott-Rodino Act Often used in risk arbitrage. Antitrust act administered by U.S. Department of Justice and the FTC that requires an investor to file a form with the government before he acquires an economic interest in the lesser amount of $15 million or 15% of the waiting period. Closing is still subject to QuesTech shareholder approval. QuesTech shareholders will receive their proxy after approval of QuesTech's proxy materials Proxy Materials Documents regulated by the Securities & Exchange Commission in which a public company outlines its methods and procedures. These documents are used to inform shareholders and solicit votes for corporate decisions, such as the election of directors and other by the Securities and Exchange Commission. The companies estimate that, based on current status, the earliest the QuesTech shareholder meeting could be held would be in late October. Assuming shareholder approval at that time, the closing of the acquisition would take place shortly thereafter. QuesTech (http://www.questech.com) is an information technology company that specializes in the development and application of information technology for government and industry. The company provides a broad spectrum of scientific, engineering, and management services in electronics, software engineering, systems engineering, and many other advanced information technology fields. With headquarters in Falls Church, Virginia Falls Church is an independent city in Virginia, United States. The population was 10,377 at the 2000 census. This city is a part of the Washington Metropolitan Area. A much larger number of people reside in Greater Falls Church , and offices worldwide, QuesTech has over 700 employees. QuesTech, with a three-year growth rate of 13%, reported 1997 revenues of $78 million. CACI International Inc (http://www.caci.com) is an information technology products and services provider that specializes in developing and integrating systems, software, and simulation products in support of government agencies and commercial enterprises worldwide. Celebrating 37 years in business, the company has approximately 3700 employees and operates out of approximately 75 offices in the U.S. and Europe. In March, CACI was named the highest-ranking systems integrator An individual or organization that builds systems from a variety of diverse components. With increasing complexity of technology, more customers want complete solutions to information problems, requiring hardware, software and networking expertise in a multivendor environment. in a Federal Computer Week Government Technology Group report on competitiveness and past performance in the federal marketplace. |
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